The Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU) has reversed a $3 million fraud back to a country.
The fraud was perpetuated through the usage of Cryptocurrency.
Speaking before a Senate Joint Committee on Tuesday, the Director and Chief Executive Officer of NFIU, Modibbo Haman, informed the lawmakers that Cryptocurrencies are being used to perpetuate fraud.
According to Haman: “We reversed more than $3 million fraud back to the country with CBN.
“The fraud was carried out through Cryptocurrency.”
The NFIU Director added that the decision taken by the CBN on Cryptocurrency was in the best interest of the country.
The CBN had through its Governor, Godwin Emefiele, announced a ban on trading in Cryptocurrency.