By Karen James
Awka-based cryptocurrency vendor and Managing Director of BLord Group, Mr. Linus Williams Ifejika, popularly known as BLord, has been arrested by operatives of the Nigeria Police Force. The arrest was made in Abuja on Tuesday, July 16, following allegations of cryptocurrency fraud, terrorism funding, and aiding internet fraud leveled against BLord’s companies, including BLord Real Estate Ltd., Blord Jetpaye Ltd., and Billpoint Technology.
The arrest was confirmed by Force Public Relations Officer, ACP Olumuyiwa Adejobi, in a statement issued to newsmen. The statement revealed that complaints were lodged against the BLord Group of Companies, leading to the necessity of his arrest. The police’s investigation will focus on allegations of cryptocurrency fraud, aiding internet fraud, computer-related fraud, terrorism funding, and non-compliance with regulatory frameworks.
In the statement titled “Alleged Fraud, Violation of CBN Act: Police Interrogate CEO Blord Group of Companies, Linus Williams,” ACP Adejobi emphasized the importance of ensuring a safe and secure cyber space in Nigeria, promising to conduct due diligence in their investigations. The police force is dedicated to making the cyber space safe and secured for all Nigerians.
This is not the first time BLord has faced legal trouble. On August 31, 2020, he was previously arrested by the Economic and Financial Crimes Commission (EFCC) on allegations of internet fraud. However, he was later acquitted by the Enugu State Federal High Court on May 7, 2022, in a landmark judgment. BLord dedicated this victory to Nigerian youth and continued his cryptocurrency business until his recent arrest and detention in Abuja.
The arrest of such a prominent and well-known figure in the cryptocurrency industry has sent shockwaves through the community. The outcome of the police investigation will have significant implications for the future of cryptocurrency regulation and cybersecurity in Nigeria. People are closely watching to see how the authorities handle this case and ensure justice is served.
As the investigation unfolds, many will be anxiously waiting for updates on the charges brought against BLord and the evidence supporting the allegations. The involvement of BLord’s companies raises further concerns about the extent of the alleged fraudulent activities. The police force’s commitment to achieving a safe and secure cyber space is reassuring, and the Nigerian public expects a thorough and transparent investigation into these serious allegations.
It remains to be seen how this arrest will impact the crypto industry in Nigeria, as it serves as a reminder of the risks and challenges faced by investors and businesses operating in this rapidly evolving field. The outcome of this case will undoubtedly have far-reaching implications for the cryptocurrency landscape not just in Nigeria, but also globally.
