According to the Nigerian government, at least N83 billion in cryptocurrency and fiat cash were used to fund the most recent countrywide protests which the government has also insisted were targeted at achieving a regime change in the guise of governance reforms.

The National Security Adviser, Nuhu Ribadu, made the revelation at the inaugural Council of State meeting under President Bola Tinubu. He mentioned that the government $50 million worth of cryptocurrencies, of which $38 million was blocked in four wallets, and N4 billion given by different political figures in Abuja, Kano, Kaduna, and Katsina are among them.

Speaking on the subject of “The Nationwide Protest As It Affects National Security,” Ribadu also disclosed that a European has been identified as the mastermind behind the proliferation of foreign flags during the protests and will soon be declared wanted by the Police, according to multiple sources with knowledge of the meeting proceedings on Tuesday.

Speaking under oath due to his lack of authority, one of the sources revealed that local conspirators who were tracked down to the nation’s capital, Abuja, as well as those in Kaduna and Kano, had been apprehended.

“In his presentation, the NSA said the government was able to trace $50m to crypto wallets that were made as donations to the protests. They succeeded in blocking four of those wallets containing $38m.

“They also found out that some political actors contributed N4bn to fund the protests,” one of the sources told The PUNCH.

The President (who also acts as its chairman), the Vice President, all previous heads of state and presidents of the Senate, all former Chief Justices of Nigeria, the Speaker of the House of Representatives, the Attorney-General of the Federation, the Secretary to the Government of the Federation, and all state governors make up the Council.

The governors of Abia, Adamawa, and Akwa Ibom State virtually joined former heads of state General Yakubu Gowon (retd.) and General Abdulsalami Abubakar (retd.), as well as former presidents Goodluck Jonathan and Muhammadu Buhari, for the first Council meeting.

Nevertheless, the meeting was not attended by former President Olusegun Obasanjo or former Head of State General Ibrahim Babangida (retd.).

The event on Tuesday took place a few days after a million-man march through the streets of Abuja, primarily by young Nigerians. The nationwide demonstration against the rising cost of living in the nation entered its tenth day on March 10, which culminated with a poor turnout.