Nigeria launches UN-backed crackdown on crypto-linked financial crimes
Nigeria has launched a new UN-backed programme to tackle rising financial crimes, including those linked to cryptocurrencies. The initiative comes as authorities warn of growing risks from digital currencies being used for illegal transactions. Officials unveiled the plan at a high-level event in Abuja on March 27. The UN Office on Drugs and Crime (UNODC) introduced its Country Programme for Nigeria (2026–2030) to combat corruption, transnational crime, and security threats. The agency, which specialises in fighting illicit finance and terrorism, will work with local partners to address vulnerabilities in the digital economy.
Nigeria ranks among the world's top adopters of cryptocurrencies, but this growth has also fuelled criminal activity. The Economic and Financial Crimes Commission (EFCC) reported a surge in crypto-related offences, with global illicit transactions exceeding $160 billion in 2025. Criminal networks increasingly use digital currencies to move funds across borders undetected. At the event, EFCC Chairman Ola Olukoyede stressed the urgency of stronger regulations. Musa Aliyu, head of Nigeria's anti-corruption commission, also highlighted the country's complex security and corruption challenges. Both agencies warned that rapid digital finance expansion has created new opportunities for organised crime.
The five-year UNODC programme will focus on strengthening Nigeria's ability to detect and prevent financial crimes. Authorities aim to close gaps in digital transaction oversight while addressing broader security threats. The initiative reflects growing concerns over cryptocurrency misuse in the region.
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