Feminist Coalition (Femco) is a group of young Nigerian feminists that promote equality for women in Nigerian society, (Wikipedia). The group has fallen under heavy criticism after playing ‘hero’ during #EndSars protest, a nationwide protest by Nigerian youths against police brutality.
Feminist Coalition, #EndSars, Bitcoin
It all began when the federal government of Nigeria froze the account of Femco owing to the heavy financial support they received and in turn used to back the Endsars protest. The group was largely behind the provision of food, snacks, medical care, music, and other needs of protesters while the youth agitated for police reform and end to the Special Anti Robbery Squad (SARS) notorious for brutality of young Nigerians.
After the federal government cut off financial support for the group through their bank account, Femco resolved to receive donations through cryptocurrencies, (Bitcoin), A great idea.
The Endsars protest which got the attention of the globe at that time caught the attention of several influential individuals including Twitter CEO, Jack Dorsey. The tech mogul aided Feminist coalition in its call to receive Bitcoin donation. The CEO donated some coins to end police brutality in Nigeria and designed an emoji for the trending #EndSars.
— jack (@jack) October 14, 2020
Totally, Femco got 7.21 Bitcoin which around November 2020 worth $105,000.
Feminist Coalition fell under fire after allegations that the group went behind the back of the public to withdraw $51,000 from the Bitcoin donations it received. It sparked controversy on popular social media, Twitter as it still tops the trend at press time.
The Twitter user with the handle @Rx_Deyholar, alleged that the Coalition moved $51,000 worth of bitcoin to a newly generated account.
“Feminist co withdrew $51,000 worth of Bitcoin from their donation wallet on the 5th of this month silently”, he wrote on Twitter.
Feminist co withdrew $51,000 worth of Bitcoin from their donation wallet on the 5th of this month silently.
— Adeola of Lagos 🔥 (@Rx_Deyholar) March 12, 2021
The allegations later generated furor, with many Twitter users calling on anti-graft agency, the Economic and Financial Crimes Commission (EFCC) to investigate the alleged withdrawal.
“I will personally join in signing a Petition to EFCC if the feminist co doesn’t come forward and account for every Kobo in that Bitcoin wallet and give a satisfactory reason as to why they cleared the wallet and persons involved. This is not an allegation, but a call to account,” @von_Bismack wrote.
But the Coalition, responding to the allegations via a press release, showed the amount they received and spent.
Nailing Feminist Coalition on their press release
The group in the press release are being held in the wrist for claiming that they initiated a Bitcoin transaction on November 16th,2020 from their Bitcoin address and it was not confirmed until March 5, 2021.
They attributed the delay in confirming the transaction to a clog in the Bitcoin network.
A popular crypto analyst on Twitter, The Crypto Dog debunked the claim of Femco stating that no bitcoin transaction can ever take four months before confirmation.
“They used a transaction fee of .0058 BTC worth a minimum of ~$80 (worth more depending on when they sent). That’s not a small transaction fee, that doesn’t take four months. It could take as little as 10 minutes, maybe a few hours if things are really congested.
One of my followers alerted me to this charity org in Nigeria that appears to be lying about (potentially embezzling #BTC funds.
— The Crypto Dog📈 (@TheCryptoDog) March 12, 2021