Sunday Igboho Funding

Emerging reports have it that CBN Banned Cryptocurrency In Nigeria To Halt Sunday Igboho Funding Even As Lawyer Dares Apex Bank In Stopping fundraising for Yoruba activist. 

 

NewsOnline Nigeria reports that Activist lawyer, Tommy Ojoge-Daniel, says the recent warning issued by the Central Bank of Nigeria to Deposit Money Banks, Non-Financial Institutions and other financial institutions against doing business in crypto and other digital assets cannot stop the fundraiser set up for Yoruba activist, Sunday Adeyemo, better known as Sunday Igboho.

 

READ: Sunday Igboho Gets N51.8million Boost To Continue War Against Herdsmen

 

This online news platform understands that Ojoge-Daniel said this during a chat with The PUNCH on Friday shortly after the CBN issued its directive.

 

 

Recall that Supporters of Igboho had set up a Gofundme page for the purpose of raising £100,000 (N51.8m) for him to buy buses to implement his project of ridding the South-West of killer herdsmen.

The fundraiser, which was initiated by Maureen Badejo, a blogger and activist based in the United Kingdom, had garnered £25, 589 (N13.2m) as of Friday evening.

 

READ: Sunday Igboho Eviction Team Sets Ogun Fulani Settlement Ablaze (Video)

 

Giving the fact that cryptocurrency is one of the major ways through which funds sourced through crowdfunding are accessed.

 

Speaking with our correspondent, however, the lawyer said, “It (CBN policy) does not affect it (Igboho’s funding) in any way in as much as cryptocurrency is an open-source platform for peer to peer (P2P) exchange of value and it is largely untraceable.

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“The open ledger (blockchain) only tracks activities in wallets and cannot hinder or hamper individuals who have crypto in their wallets from sending it to the recipient wallet. They can only track the payments but can never track the payers. The only issue will be exchanging the crypto on a direct platform to a Nigerian account.”