General News
Activists Turn to Bitcoin for #EndSARS Protests as Banks Shut Them Out
As protests surge through Nigeria in response to police brutality, one enclave of protestors has turned to bitcoin as a financial lifeline during turbulent times, according to CoinDesk.
The Feminist Coalition’s bank account was shuttered this month after its involvement in the End SARS protests came to light, according to a person familiar but unaffiliated with the group who asked to be identified as Emma (a pseudonym).
End SARS is a movement in Nigeria to abolish the Special Anti-Robbery Squad (SARS), a subdivision of the police force with a track record of abusing and harassing citizens.
Cast out of the traditional system, the Feminist Coalition is now raising donations in bitcoin.
The #EndSARS protests
The Feminist Coalition was founded in July with a mission to “champion equality for women in Nigerian society with core focuses of education, financial freedom, and representation in public office.”
With the outbreak of protests against police brutality this month, the group has concentrated on providing medical care, legal aid and even funeral funding for those participating in the peaceful demonstrations.
Since the protests surfaced in the beginning of October, 10 Nigerians have died at the hands of police, according to CNN.
As of Oct. 16, the Feminist Coalition has collected a total of 69,891,637.15 naira (a couple bucks shy of $185,000), 15,443,280.00 of which ($40,000) has been deployed to aid 128 protests across the country, according to the coalition’s website.
Bitcoin and censorship-resistant fundraising
All of this fundraising attracted the attention of authorities, though, and they were shut out of Flutterwave, the payments platform and something of a virtual bank they used to process donations.
At press time, Flutterwave had not returned CoinDesk’s request for comment.
That’s when they turned to alternatives.
“Quite a few members of the group work in tech,” so they made the decision to use bitcoin as another payment option, said Emma.
They started by using Sendcash, a platform which converts bitcoin payments into naira and then deposits these funds into a recipient’s Nigerian bank account.
The service is intuitive and highly useful, but it carries the risk that banks will almost certainly sniff out the source of the Feminist Coalition’s funds and shut down its accounts again.
The coalition no longer uses Sendcash because of this likely outcome.
But they still accept bitcoin: Alex Gladstein, chief strategy officer of the Human Rights Organization, set them up with a BTCPay Server.
Emma called the self-hosted payment process “a safer wallet” compared to other options.
Because it operates obliquely to the banking system, the censorship-resistant payment portal is an essential tool for the Feminist Coalition’s fundraising, Gladstein told CoinDesk.
“I would say BTCPay is important because it protects the privacy of donors and prevents the government from easily figuring out what service the protestors are using to cash out their bitcoin into naira,” he said.
Since adding the BTCPay bitcoin donation option on Oct. 14, the coalition has amassed roughly 3.14 BTC (~$36,000).
Bigger than Bitcoin
As CoinDesk has reported previously, Nigerians are no strangers to how the Bitcoin system lets them move money in the shadows of the legacy financial system.
Some Nigerian expats, for instance, use the Paxful exchange to send remittance funds back home, while others use bitcoin to trade directly with China.
More germane to the recent protests against police brutality, others have even used Bitcoin as an unconfiscatible bank account to avoid police shakedowns for cash. As though they see the writing on the wall, the Nigerian government is also spinning up a digital version of the naira.
Still, Emma said that bitcoin is “not popular among the masses yet at all. There are large barriers mostly in terms of education. However, a lot of young Nigerians are now starting to adopt cryptocurrency and it’s growing across the population.”
Further, the Feminist Coalition’s successful fundraising using bitcoin sheds “some positive light on cryptocurrency,” she says, and promotional efforts by Binance in Nigeria are also softening Bitcoin stigma in the country.
Of course, Bitcoin is only one tool in Nigeria’s fight for civil rights – it is not a cure – all for its citizens. What’s really needed is concrete reform.
Nigerians have been protesting as far back as 2016, Emma said, for SARS’ abolition and for police reform. It wasn’t until the most recent bout of unrest beginning in October that the government acquiesced to the protestors’ demands and formally disbanded SARS.
To many Nigerians, though, this is merely political theatre, and they expect SARS abuses to migrate to one of the new task forces that the government is forming to take its place.
That’s why the protests haven’t stopped, Emma said, “because [Nigerians] want to see actual change in terms of police reform.”
With SARS now abolished, though, the protesters’ something-of-a-victory has left Emma hopeful. Not necessarily that things will immediately change, but that the Nigerian people, collectively, are beginning to “wake up” to the government’s abuses.
There’s more activity now than ever pressing for change, she said, and that’s something to be thankful for.
“We’re very tired of the lies and deceit, and there’s a widespread consciousness and awakening among young Nigerians right now that many are saying they’ve never seen before. I know I’ve never seen it before and I’m so relieved that it’s finally here.”
Office of the Surveyor General of the Federation (OSGOF) and the National Space Research and Development Agency (NASRDA) have pledged to deepen collaboration in key national development areas, including geospatial data infrastructure, satellite technology, communication sector regulation, and population census operations.
This was the outcome of a high-level meeting held on Tuesday at the headquarters of OSGOF in Abuja, where Abudulganiyu Adeyemi Adebomehin, surveyor General of the Federation, received Dr. Matthew Adepoju, director general of NASRDA, and his management team.
This was disclosed in a statement issued on Wednesday by Henry David, head, Information and Public Relations, Office of the Surveyor General of the Federation, titled ‘SGOF Pledges To Support NASRDA For Optimal Performance.’
According to the statement, the discussions at the meeting focused on the impact of upstream and downstream operations in Nigeria’s communication sector, challenges of mast proliferation near residential areas, and the broader implications for public health. Both agencies expressed concern over the unregulated installation of communication infrastructure and its potential link to rising cancer rates.
“The downstream sector of communication companies involves placing signal-receiving stations within living communities, which poses significant health risks due to radiation,” the two agencies said in a joint position. “Co-location of infrastructure, as practised in developed countries like the UK and US, should be adopted here to reduce radiation exposure.”
The two agencies called for stronger regulation of telecommunication operators, noting that television and radio signal disruptions—commonplace in Nigeria—are largely due to a lack of oversight, a situation that does not persist in countries with stringent telecom regulations.
Addressing issues of national data management, the agencies stressed the critical need for collaboration with the National Population Commission (NPC) in the upcoming national census. “Without the input of NASRDA and OSGOF, the census will remain speculative,” they jointly noted.
On geospatial data, both parties resolved to work together to strengthen the National Geospatial Data Infrastructure, which they described as vital for national planning and development.
In his remarks, Surveyor General Adebomehin expressed firm support for NASRDA’s initiatives. “I will defend NASRDA to the best of my ability. If you need software engineers, we have capable hands here,” he said. “Keep encouraging your staff. Behind every successful organisation in the world, you will find Nigerians. We are in full support of your mission.”
Adebomehin urged NASRDA to engage the Presidency directly in acquiring high-precision satellite systems. “You need a satellite that can deliver accuracy of less than 10 centimetres,” he said. “This will reduce the government’s losses from MDAs sourcing satellite services externally.”
Duniya Magaji Joseph, director of Geodesy at OSGOF, called for improved inter-agency collaboration, especially with the military. “Anytime the military collaborates with OSGOF, the outcome is always better,” he said. “We need to overcome the tendency to work in silos driven by funding concerns and instead focus on joint advantages.”
NASRDA’s DG, Dr. Matthew Adepoju, said his agency is working with the Ministry of Steel Development on mineral exploration projects, including the identification of new sites for raw materials such as steel and limestone. He stressed the importance of OSGOF’s technical input in these initiatives.
“We’ve agreed to support the Ministry of Steel Development in identifying new resource locations,” Adepoju said. “But I don’t want NASRDA to go it alone. We want OSGOF fully involved so that roles are clearly defined, and the synergy is more impactful.”
To mark the visit, NASRDA presented symbolic gifts, including a plaque and a vest, to the Surveyor General in appreciation of OSGOF’s commitment to partnership.
The meeting, held in Abuja, concluded with both agencies reaffirming their shared mandate to support national development through technology, data integration, and inter-agency cooperation.
The Securities and Exchange Commission (SEC) has warned investors that Crypto Bridge Exchange (CBEX), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, remains banned in Nigeria, insisting that it has not been registered by the commission.
SEC’s position followed reports that traders on the controversial CBEX platform are now back and able to access their accounts and trade, with renewed assurance after the digital platform abruptly shut down in April, thereby trapping investors’ funds in excess of N1 trillion.
In a public notice issued on Wednesday, SEC advised the public to refrain from patronising or transacting any investment-related business with CBEX.
However, the commission was silent on what steps it would take against the trading platform and its promoters, having earlier declared that CBEX was not registered or authorised by it to embark on offer investment-related services to the Nigerian public.
The notice read: “The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, has resumed operations across Nigeria.
“According to the reports, CBEX promoters are demanding $200 from their subscribers with balances above $1,000, and $100 from those with less than $1,000 balances before withdrawals can be processed.”
The commission stated unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with it or authorized to offer investment-related services to the Nigerian public.
“As a matter of fact, enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities and the commission is collaborating with relevant law enforcement agencies to properly investigate CBEX/ST Technologies International Ltd and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025.
“The Nigerian public is accordingly advised to refrain from patronising or transacting with CBEX /ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds,” it said.
It, therefore, advised the public to verify the registration status of investment platforms via the commission’s dedicated portal before transacting, adding that it remains committed to protecting investors and maintaining market integrity.
Union Bank of Nigeria has reiterated its commitment to entrepreneurship and women’s empowerment through its alpher initiative by sponsoring the Nigerian British Chamber of Commerce (NBCC) Women and Youth Entrepreneurship Development Centre (WYEDC) Cohort 2 Programme, which has graduated 125 entrepreneurs who have benefited from firsthand entrepreneurship training and business grants.
Small and medium-sized enterprises (SMEs) in Nigeria account for more than 50% of industrial employment and contribute approximately 48% to the country’s GDP.
This makes entrepreneurship one of the economy’s building blocks and is a testament to Union Bank’s unwavering dedication to national development in partnership with NBCC.
In her welcome speech, the Director General of NBCC, Dr. Ebere Njoku, reiterated NBCC’s commitment to supporting entrepreneurship, women’s empowerment, and youth empowerment, citing these as catalysts for economic development and sustainability.
She appreciated the sponsors, partners and facilitators who devoted their resources and time to upskilling the participants.
The entrepreneurship initiative stemmed from the visionary goal of Mr. Ray Atelly, President and Chairman of the Council, NBCC, FRPA, to provide entrepreneurship and grant opportunities to Nigerian women and youths.
Mr. Atelly told the graduates in his speech, “This is your chance, make sure you take it. Don’t let any obstacle stop you because there will be many; if you let it stop you, your dreams are not strong enough. You need to keep pushing, someday you will sit at the top of a conglomerate and people will aspire to be like you.”
Also in attendance was the NBCC’s Patron, Senator Akin Odunsi, FRPA, who congratulated the Cohort 2 graduates.
He said, “I encourage all of you not to take the training you have received for granted. Use it as a landmark opportunity to be a beacon of hope to others who look up to you.”
He also urged the Chamber to provide internship opportunities after the six-month entrepreneurship training in organisations for the incoming Cohort 3 and beyond.
He added that the internship experience will give trainees the unique chance to practice what they learned and, in return, benefit the organisations from their acquired skills.
The goodwill message at the graduation ceremony was delivered on behalf of Mrs. Yetunde Oni, Managing Director and Chief Executive Officer of Union Bank of Nigeria, by Mrs. Vivian Imoh-Ita, the Bank’s Head of Retail and SME Business, who appreciated NBCC for the life-transforming training they are providing to the youth and women entrepreneurs.
She further stated, “As a Bank, we understand that when we invest in women and youth entrepreneurs, we are investing in the most powerful catalysts of economic transformation. Through the Bank’s alpher initiative, we have enabled success for women-led businesses. In a volatile economy like Nigeria, the challenges facing entrepreneurs are dynamic and significant. As a Bank, we intend to prove that these barriers are not unconquerable and are growth opportunities.”
Three entrepreneurs, namely Evelyn Ekene Ani of Evani.Ng (First place), Martha Padonu of Beyond Photography (Second place), and Therietta Vershima of La Teriz (Third place) were declared winners of the Union Bank Business Pitch competition held during the graduation ceremony and were rewarded with funding for their businesses.
The Bank’s sponsorship of the training demonstrates its commitment to fostering a vibrant, innovative, and inclusive entrepreneurial ecosystem for women and all individuals.
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