- The US Department of State is partnering with Nigerian to launch a Bilateral Liaison Group on Illicit Finance and Cryptocurrencies
- The partnership aims to tackle cybercrime, financial crimes related to digital assets
- The collaboration represents a significant milestone in global efforts to regulate digital finance and combat criminal activities
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The U.S. Department of State has partnered with the Nigerian government to launch a joint task force to combat illicit finance and cryptocurrency transaction. This collaboration aims to improve Nigeria's capabilities in investigating and prosecuting cybercrime by sharing expertise and resources.
According to the statement released via the Department of states' website, the United States intends to team up with the Government of Nigeria to build its capacity in tackling cybercrime and promoting international cooperation in the cyberspace.
The initiative is a significant step forward in the global fight against cybercrime and illicit financial activities.
"The United States works with partners across the globe to promote cyberspace and digital technologies that advance economic prosperity while countering and responding to malicious cyber operations, cybercrime, and other digital harms."
"The United States reaffirms our commitment to a close partnership with Nigeria, and the U.S. Department of Justice is continuing its coordination with the Government of Nigeria to build its capacity to pursue cybercrime investigations and prosecutions." the statement noted.
Nigeria's interest in bitcoin has soared greatly earning the country the top spot in cryptocurrency usage and ownership, with majority of its population using or owning cryptocurrency.
According to Business Insider Africa, Nigeria topped the global list in crypto usage and ownership with 45% of its population using or owning cryptocurrency in 2022. This equates to over 90 million people, almost 1.5 times the population of the United Kingdom
The adoption rate in Africa has been spurred by a number of high ranking nations like Nigeria maintaining its position as a top global player, and Ethiopia in 26th position, Kenya (28), and South Africa (30) that also made the top 30 countries in crypto adoption globally according to Chainalysis.
The new liaison group aims to improve Nigeria’s capacity to investigate and prosecute cybercrime, focusing on issues such as illicit financial flows and the misuse of cryptocurrencies.
The partnership with the US represents a significant milestone in global efforts to regulate digital finance and combat criminal activities in the rapidly evolving and complex world of digital currencies, marking a crucial step forward in international cooperation."
English (US) ·