Pro-Bitcoin Politician Fights For Crypto Investors' Rights in Nigeria

Nigerian politician, educator, and Bitcoin advocate James Otudor shared the details of the lawsuit he filed against key government entities in the country.

Nigerian Pro-Bitcoin Politician Files Lawsuit Over Crypto Restrictions

A Nigerian politician, activist, and educator has revealed that he filed a lawsuit against several key government entities in the country. The lawsuit aims to challenge the recently imposed restrictions on the crypto industry and advocate for the rights of Nigerian crypto investors.

The lawsuit was filed in July by James Otudor, a Nigerian politician and Bitcoin advocate. Otudor shared the details of the lawsuit in a recent post on Medium.

According to the lawsuit, those who wish to invest in or already own and use cryptocurrencies are “being unfairly targeted.” As a result, the rights of Nigerian citizens have been violated “as guaranteed by Chapter 4 of the Constitution of the Federal Republic of Nigeria 1999.”

The lawsuit targets the President of Nigeria, the Minister of Finance, The Attorney General of the Federation, the Central Bank of Nigeria (CBN), the Economic and Financial Crime Commission (EFCC), the Securities and Exchange Commission (SEC), the National Information Technology Development Agency (NITDA), the Nigerian Police Force, and the Nigerian Communication Commission (NCC).

The Plaintiff argues that the constitutional right to acquire and own property in the country extends to Bitcoin and other cryptocurrencies. This is because cryptocurrencies are globally recognized as valuable assets.

“Bitcoin and USDT are globally recognized as valuable assets that protect holders from inflation and serve as a medium of exchange. Section 43 of the Constitution guarantees every Nigerian the right to acquire and own property anywhere in Nigeria. This right extends to digital assets, which have become essential for financial inclusion and economic stability,” Otudor’s legal representative, Maurice Eban, stated.

The lawsuit challenges the government’s restrictions, including the blockage of crypto trading platforms by telecom companies. According to the Plaintiff, these restrictions violate Article 14 of the African Charter on Human and People Rights.

Otudor argues that the “ongoing targeting” of Nigerian crypto investors is a “clear violation of their fundamental human rights.” The Plaintiff stressed that Bitcoin and all digital assets are crucial for protecting investors from inflation and facilitating international transactions.

The lawsuit aims to protect these fundamental human rights, “especially in light of naira devaluation and foreign exchange shortages.” The legal action seeks a declaration that guarantees the protection of Bitcoin users’ rights by the law.

Furthermore, the Plaintiff demanded the immediate unblocking of all Nigerian online crypto exchange platforms and a declaration stating that the “infringement, victimization, and human rights violations of those who own, use and trade Bitcoin, USDT, and other crypto in Nigerian is unlawful, unconstitutional, and illegal.”

Finally, Otudor called for the integration of crypto assets within the Nigerian financial ecosystem, “recognizing their distinct categories and regulating Bitcoin as a commodity.”

The politician and activist closed his statement by calling the action a “peaceful protest” to ensure that the rights of crypto users and holders are protected and guaranteed. The outcome of the legal battle could have significant implications and shape the future of the country’s challenging crypto landscape.

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