The Federal Government has traced at least N83 billion in cryptocurrency and fiat money channelled towards the recent nationwide protests, according to a presentation by National Security Adviser Nuhu Ribadu at the inaugural meeting of the Council of State convened by President Bola Tinubu.
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The funds include $50 million in cryptocurrency, with $38 million blocked in four cryptocurrency wallets, and N4 billion contributed by various political actors in Abuja, Kano, Kaduna, and Katsina. Ribadu also revealed that a European mastermind behind the proliferation of foreign flags during the protests has been identified and will soon be declared wanted by the police, while local collaborators in Abuja, Kaduna, and Kano have been arrested.
The Council of State meeting, which was attended by former Presidents Goodluck Jonathan and Muhammadu Buhari, as well as various state governors, discussed matters related to the recent #EndBadGovernance protests, national security, the economy, and food security. Former Presidents Olusegun Obasanjo and Ibrahim Babangida were notably absent from the meeting.
Minister of Solid Minerals Development Dele Alake, while briefing journalists after the meeting, stated that no political actor would be allowed to instigate an unconstitutional regime change and that any changes must be made through the ballot box. He also confirmed that ministers from various portfolios briefed the Council on seven key areas, including the nationwide protests, the state of the economy, food security, and milestones in various sectors.
Finance Minister Wale Edun presented data showing that Nigeria’s inflation rate, though high, is reducing steadily, and the economy is growing, with a stabilizing exchange rate and positive balance of payments. He also highlighted the potential for growth in the service sector, particularly in the outsourcing industry.
The Chairman of the Nigeria Governors’ Forum, Governor AbdulRahman AbdulRazaq, announced that the Council of State unanimously passed a vote of confidence in President Tinubu, with governors satisfied with the presentations made by members of the Federal Executive Council.
The Council of State, a constitutional organ that advises the executive on policy-making, last met 18 months ago under former President Muhammadu Buhari. Its recommendations, though not binding, often influence presidential decisions on crucial national issues.
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