Comparing Crypto Strategies: US Feds and EFCC Nigeria

[Alphakilo]

The US Feds are holding at least 210,000 bitcoins which is worth more than $13bn. The Economic and Financial Crimes Commission(EFCC), the Nigeria body which is like the US Feds that is responsible for crimes bothering around financial crimes which is not limited to crypto as at 3 years ago through its chairman said it holds at least $20 million worth of crypto which they have seize from fraudsters and are holding it in their e-wallet.

The US Feds, has sold 195,000 Bitcoins and made $366,493,104 from its sales. The question now is what does their Nigerian counterparts, the EFCC aim to do with theirs? There is no news of what is being done with them so far or what will be done. Will they follow in the footsteps of their US counterparts or will they do it the Nigerian way?

[Nwada001]

The Nigerian government will probably not make any move to sell off those holdings, either in an auction or by whatever means they want to use, the reason being that they are still entirely unsure if they are accepting crypto publicly or if they still consider it a scam.

They also add that they believe crypto currency is the reason for the Naira devaluation, so how can they sell the crypto in exchange for what exactly?
 
I believe the amount of crypto they have seized from people about whom the news pops out once in a while should be more than this, unless they don't account for everything.

According to the link you provided, it was a record from 2023, and since then, there have been prosecutions of some individuals that they believe are into crypto fraud.

[DubemIfedigbo001]

I believe the amount of crypto they have seized from people about whom the news pops out once in a while should be more than this, unless they don't account for everything.

Waiting for the Nigerian government to he honest with you is like waiting for a chicken to pass out urine from its excretory organs. Those figures are leftovers after they must've shared a  large quantity among themselves as the big players, they now  report clearly  manipulated figures for public consumption. The quantity of coins they seize from these boys at regular even amounts to billions of dollars, but  Godfatherism and corruption wouldn't let them be honest in their dealing with these crimes.

I think the leaders  deals very  much with crypto, they know what is obtainable and whopping benefits gotten from it, and the freedom the average citizen could get from it. Knowing fully well it might work against their political ambition which they achieve by keeping the citizens hungry, so they fight crypto which has brought liberation with all their strength to remain in position.

One thing I know is this, fighting against crypto is like fighting against the future. No one can win that fight with the future because the future must always come. Crypto is  that future and it must prevail.

[Kelward]

How you go trust EFCC totally to de transparent, wen dem indict dem former chairman wey be Ibrahim Magu, say I'm de involved fo many financial crimes, infact dat dem former Oga case make me to loose faith for EFCC matter. As Nwada001, talk, di amount of Bitcoin wey EFCC don cease suppose bass di amount wey dem de declare to us, I get dis believe based on say dem get plenty corrupt officers, wey dem don catch for stealing, including dem former boss wey be Ibrahim Magu. Dem de as corrupt as di criminals wey dem de cease dis Bitcoin from, aldo I know say incorruptible officials go de among dem wey get intergity, but di corrupt ones don make us to loose trust for where di agency de. Make we just de watch and see weda dem go talk anything about di ceased Bitcoin, or dem go sweep am under di carpet.

[sotelorene]

The Nigerian government will probably not make any move to sell off those holdings, either in an auction or by whatever means they want to use, the reason being that they are still entirely unsure if they are accepting crypto publicly or if they still consider it a scam.

They also add that they believe crypto currency is the reason for the Naira devaluation, so how can they sell the crypto in exchange for what exactly?
 
I believe the amount of crypto they have seized from people about whom the news pops out once in a while should be more than this, unless they don't account for everything.

According to the link you provided, it was a record from 2023, and since then, there have been prosecutions of some individuals that they believe are into crypto fraud.

I know the Government is going to hold those coin untill they are able to come to a conclusion that they have accepted it or it is scam and that no one should involve himself/herself in crypto but i believe this conclusion is going to take years before they will arrive at it and while we wait, lets keep pushing ( investing). However, anything that will make them get close to the conclusion that Bitcoin is a fraud they will rush am sell out those ones they are holding so that it won't be like they are fighting what they are holding.