A Nigerian court has convicted two more cryptocurrency firms, Egomsinachi Road Autos Limited and Chimera Log & Haulage Services Limited, for conducting unauthorized USDT-to-naira transactions. As a result, they’ve been ordered to transfer nearly $30,000 to the federal government. The latest court decision came just a few months after other crypto firms, Paparaxy Global Ventures Limited and Lemskin Technologies Limited, were ordered to transfer just over $95,000 to the federal government as part of a plea bargain agreement. The country’s anti-graft body has also secured a court order to freeze over $325,000 held in the accounts of individuals and businesses suspected of engaging in unauthorized foreign exchange transactions.
Nigerian Crypto Crackdown: Two More Firms Convicted, Forced to Cough Up $30,000
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
About the author
WRITTEN BYBitcoin.com News DeskEditorial Desk Reporter
The Bitcoin.com News Desk publishes timely reporting on market developments, protocol updates, regulatory changes, and industry announcements across the cryptocurrency sector.
