THE Nigerian Police Force (NPF) has confirmed the arrest of a cryptocurrency entrepreneur, Linus Williams, also known as BLord over alleged internet fraud, terrorism funding, and violations of the Central Bank of Nigeria (CBN) Act.

He was arrested on Tuesday, July 16.

According to the Force Public Relations Officer, Olumuyiwa Adejobi, in a statement released on X, he was arrested following complaints against his companies and allegations around fraud and non-compliance with regulatory frameworks.

“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,” he stated.

He assured that the Force would ensure the safety of the country’s cyberspace.

“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,” he added.

In 2021, The ICIR reported that the CBN sent a circular to financial institutions, instructing them to immediately close the accounts of persons or entities transacting in or operating cryptocurrency exchanges.

In December 2023, the CBN relaxed the ban but warned banks and other financial institutions were still prohibited from holding or trading in virtual currencies on their account.