CRYPTO CRIME | Nigeria Police Force Dismisses 5 Inspectors Over Alleged Kidnappings and Crypto Theft

The Nigeria police force has dismissed five inspectors over alleged involvement in kidnapping, armed robbery, extortion, and corruption in Rivers State as authorities intensify efforts to curb criminal activity and restore public trust in law enforcement.

The officers were dismissed following internal disciplinary proceedings after investigators uncovered what police described as a criminal syndicate involving serving officers in Port Harcourt and surrounding areas, according to statements reported by Nigerian media. Prosecutors are expected to file charges within 30 days.

Placid, a Deputy Commissioner of Police, said the arrested police officers operated and were known for arresting and abducting victims, taking them to isolated locations, forcing them to unlock their mobile phone and extorting money running into several millions from them.

“Investigation revealed that the suspects, while armed and operating in minibuses within Port Harcourt and its environs, routinely intercepted unsuspecting citizens during illegal stop-and-search operations, in the process forcefully seized their phones, coerced them into revealing banking details and PINs, and unlawfully transferred funds from their bank and cryptocurrency accounts.”

The Nigeria Police Force said the officers’ actions represented ‘a grave betrayal’ of public trust and did not reflect the standards expected of the institution. The case also involved allegations of conspiracy, kidnapping, and official corruption, according to local reports.

In one incident, Placid explained:

“The officers subsequently abducted the complainant and his cousin to an unknown location, where they forcefully transferred the sum of Four Million Five Hundred Thousand Naira (₦4,500,000.00) from his Opay account and One Thousand Seven Hundred and Forty-Two United States Dollars ($1,742 USD) from his cryptocurrency wallet.

Investigation established that the total amount unlawfully obtained from the victim amounted to Seven Million Three Hundred and Thirty-Eight Thousand Eight Hundred Naira (₦7,338,800.00).”

The dismissals come as Nigeria and several other countries face rising concerns over violent crimes linked to digital assets and ransom-style attacks targeting crypto holders and wealthy individuals.

A February report published by BitKE highlighted a surge in so-called ‘crypto wrench attacks’ in 2025 – incidents where criminals use threats, kidnapping, or physical violence to force victims to surrender access to cryptocurrency wallets rather than hacking them digitally.

Globally, security analysts and law enforcement agencies have warned that the growing visibility of crypto wealth has made holders increasingly vulnerable to coercion-based crimes. Recent cases in the United States and Europe have included kidnappings, home invasions, and violent robberies tied to attempts to steal digital assets.

Nigeria has also struggled with longstanding concerns around police misconduct and organized criminal activity within parts of the security apparatus. The issue previously sparked nationwide protests under the #EndSARS movement which called for reforms to the now-disbanded Special Anti-Robbery Squad, a unit repeatedly accused of abuses including extortion and unlawful detentions.

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