Bitcoin Mentioned in Conviction of 3 Internet Fraudsters in Nigeria

Three individuals have been convicted and sentenced for internet fraud and money laundering in Maiduguri, Borno State, Nigeria, with one of the cases involving Bitcoin transactions – underscoring the continued use of crypto in illicit financial activities in Nigeria.

Justice K. Dagat of the Federal High Court handed down the rulings on June 18 2025, sentencing Enoch Adebayo Richard, Samdave Megwah (aka glorycyberfix), and Abdusalam Hassan to eight years imprisonment each, with an option of fines.

Details of the Case:

* Samdave Megwah was found to have received Bitcoin and gift cards worth $600, which were converted into ₦900,000 and deposited into his Access Bank account.

• Enoch Adebayo Richard received USD-denominated Cash App and gift cards, totaling ₦38,000.
• Abdusalam Hassan possessed ₦451,000 in naira-equivalent proceeds from Cash App, PayPal, and gift cards.

The Economic and Financial Crimes Commission (EFCC) brought charges of impersonation and money laundering, citing that the accused knowingly received proceeds from fraudulent activities.

Upon their guilty pleas, the court ordered:

• Forfeiture of the illicit funds
• Confiscation of digital devices, including iPhones, Redmi phones, a Dell desktop, and Samsung Galaxy devices
• Optional fines of ₦100,000 per count for each individual

This case adds to the growing list of financial crimes in Nigeria where Bitcoin and other digital assets are used to obscure transactions and bypass traditional financial scrutiny. Authorities have repeatedly flagged the role of gift cards, digital wallets, and crypto in scams targeting foreign victims.

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