See offences as police arrested cryptocurrency ‘billionaire’ trader ‘Blord’ Linus

• Linus Williams, known as BLord, has been arrested in Abuja by the Nigerian police on several alleged offences
• The police listed some of the offences as cryptocurrency fraud, terrorism funding, and aiding internet fraud
• Nigerians have taken to social media to react to the arrest, raising questions about the charges and the link to cryptocurrency, which the Nigerian government now taxes

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Operatives of the Nigeria Police Force have arrested cryptocurrency billionaire Linus Williams, popularly known as BLord, on charges including cryptocurrency fraud, terrorism funding, and aiding internet fraud.

Blord was arrested in Abuja on Tuesday, July 16, 2024, and will have to defend the allegations, among others, against his companies.

Nigerian popular crypto trader under interrogation Photo credit: SOPA Images / Contributor
Source: Getty Images

Confirming his arrest, a statement by force spokesperson on Tuesday, Muyiwa Adejobi said:

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

“The FCID (NPF-NCCC) is currently investigating complaints lodged against BLORD GROUP, BLORD REAL ESTATE LTD, BLORD JETPAYE LIMITED, and BILLPOINT TECHNOLOGY.“These offences include allegations bothering on cryptocurrency fraud, aiding internet fraud, computer-related fraud, terrorism funding, and non-compliance with regulatory frameworks.“We will do due diligence in our investigations. Our cyberspace in Nigeria must be safe and secure by all means. We are committed to achieving that.”

Nigerians reacts

Nigerians have reacted to the arrests demanding that the Police do a proper investigation with evidence.

@sukodingha wrote:

"These are serious allegations, I hope you have enough evidence. otherwise, he will return to sue for defamation."

@thefineoldsoul noted:

"It's easy for me to berieve evelything else but that tellolism funding is out of place."

@LearnwithLadipo said:

"There has been an increasing rise in cryptocurrency scam. If you can see this tweet, don’t invest in something you have no idea of."

@justkency quizzed:

"How can you operate a crypto currency organization or provide some form of quasi financial services without proper license with the CBN and local authorities and you are busy bragging on social media."

FG moves to charge VAT on crypto assets

The Nigerian government is set to charge a 7.5% value-added tax on crypto assets effective July 8, 2024

KuCoin, one of the biggest crypto platforms, disclosed in an email to its customers that a 7.5% VAT will apply to transactions

The cryptocurrency firm disclosed that it will charge users whose KYCs are registered in Nigeria in line with the government’s directives

Source: Legit.ng