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Nigerian Crypto Figure Arrested for Violating Central Bank Regulations
Nigerian authorities have confirmed the arrest of Linus Williams, a self-proclaimed cryptocurrency billionaire also known as Blord. Williams faces serious allegations including internet fraud, terrorism financing, and violations of the Central Bank of Nigeria (CBN) Act.
According to an official police statement, Williams is charged with conducting unauthorized cryptocurrency operations that contravened Nigerian financial regulations. Specifically, his trading platform facilitated Naira-to-cryptocurrency transactions, allowing users to purchase USDT stablecoins and Bitcoin—activities that directly violate the country's financial laws.
The arrest highlights Nigeria's strict regulatory stance on cryptocurrency operations. The Central Bank of Nigeria has previously issued directives prohibiting financial institutions from facilitating cryptocurrency transactions, as part of efforts to maintain control over the country's monetary system and prevent illicit financial flows.
Williams, who founded the Blord Group, had established a significant social media presence before his arrest, with substantial followings on platforms like Facebook and Instagram.