Nigeria's Fight Against Cryptocurrency-Linked Crimes Intensifies

The Economic and Financial Crimes Commission (EFCC) has raised concerns over the growing threat of cryptocurrency-related crimes in Nigeria. The commission's chairman, Ola Olukoyede, highlighted the risks posed by cryptocurrencies such as Bitcoin, which are increasingly being exploited by criminal networks.

Olukoyede noted that the world lost over $160 billion to illicit transactions involving digital currencies in 2025. He emphasized the need for coordinated national responses and strong institutions to tackle these challenges.

The EFCC is partnering with the United Nations Office on Drugs and Crime (UNODC) to strengthen national responses to transnational organised crime, financial crimes, and cyber-enabled offences. The partnership aims to enhance the criminal justice system and protect institutions and communities from violence, crime, and financial corruption.