The Nigerian authorities have taken measures against the funds used to organize the #EndBadGovernance protests. The combined amount of blocked funds includes $38 million in four cryptocurrency wallets and 4 billion Naira contributed by various political figures.
History of Protests
The protests started as a reaction to the growing social and economic challenges across the country. Youth took to the streets demanding solutions to the rising cost of living. By the second day, the demonstrations had spread to the northern regions, resulting in significant property damage and tragic loss of lives.
Government Actions
The Nigerian National Security Council has taken measures to block funds used for organizing the protests. According to The PUNCH, out of the $50 million traced, $38 million was found in four cryptocurrency wallets. Additionally, political figures contributed a total of 4 billion Naira to fund the protests.
Role of National Council
The National Council of State is an advisory body to the Nigerian President, assisting in crucial decision-making processes regarding national security and economic policies. In the inaugural meeting chaired by President Bola Tinubu, the council discussed pressing issues, including the protests and their financial aspects. Key participants, including former presidents and governors, deliberated on possible measures to address the situation.
The outcomes of the meetings and the measures taken underscore the Nigerian government's resolve to counter any attempts to destabilize the country. Further government statements on this matter are expected soon.
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