Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC), says the commission has recovered $20million worth of cryptocurrency from cybercriminals.

He said the commission sees cryptocurrency as an “avenue where criminals launder proceeds of crime”.

He said this on Sunrise Daily, a Channels Television programme, on Tuesday.

The Central Bank of Nigeria (CBN) had issued a directive that banks should close accounts of persons or entities involved in cryptocurrency transactions within their systems.

“As it is today, there is nowhere in the world where cryptocurrency is being regulated. The EFCC is looking at cryptocurrency as an avenue where people are laundering their proceeds of crime,” he said.

“Where people are receiving proceeds of crime and that is our worry. We have seen again and again how cybercriminals are using it as an avenue to get their proceeds of crime.

“Before, it used to be through money transfer agencies like Money Gram and Western Union. Now they have gone E.

“They will defraud somebody and get gift cards, and exchange in dark webs, and use the proceeds to buy crypto. And then of course get it into their e-wallets and they can sell and get their money.”

[b]“As it is now today, we have about $20 million worth of cryptocurrency because we also created our own crypto wallet to recover cryptocurrency. We are now recovering the proceeds of crime.[/b]

“We are in support of what the CBN has done because it has reduced the ease for which these criminals can get cryptocurrency and get naira for it.

“I believe we will not be left behind when it comes to ensuring that laws and regulations are put in place to checkmate the excesses of cryptocurrency.”

Bawa said within January to June 3, 2021, 1,436 suspected cybercriminals have been arrested across the country.

“From January to June, according to the statistics, the EFCC has arrested 1436 suspected cybercriminals across the federation,” he said .

Adamawa resident, Debora Mbi, comments on photos shared on her Facebook wall by men who allegedly robbed her.

When Debora Mbi was robbed on her farm by some young men in 2020, she never thought she would come across her attackers ever again, let alone share her Facebook account with them.

But Mbi was shocked to find out that the same young men who “forcefully collected” her phone from her had been taking pictures of themselves with the phone and posting to her Facebook wall.

She was robbed in Yola by a group of young herdsmen while on her farm, but she did not report the account or change the password.

Mbi is a civil servant who is also into farming.

Friends of Mbi who saw the pictures had commented on the strange photos and had asked her the meaning of the posts, obviously believing she posted them herself.

Reacting to one of the pictures posted on her account, the Adamawa State resident said the posts were made by those who stole her phone.

“Don’t mind the idiots! They forcefully collected my phone last year and are not smart enough to open their own Facebook account. Though l think they are daring me. The Fulani man thinks he owns this country and can do anything,” she said.

In a photo shared by the men, one of the suspects was seen holding malt drink at a setting that looks like an eatery.