Nigeria freezes over 1,100 bank accounts of crypto traders amid

Nigerian crypto merchants, traders with large transaction volumes on peer-to-peer platforms, dreaded what would happen next as the country’s fiat currency, the naira, showed renewed weakness in the foreign-exchange market last week. Those fears weren’t misplaced. That’s because the Economic and Financial Crimes Commission, or EFCC, Nigeria’s anti-corruption agency, has frozen the bank accounts of 1,146 crypto traders.