The former President of the National Assembly of Gabon, Mr. Guy Nzouba-Ndama, was seen driving a private Hilux while hauling three bags containing 2 billion CFA.
The 76-year-old Nzouba-Ndama began his 39 years in government service in March 1983 as a Minister-Delegate under the Minister of State for Trade and Industry. On March 31, 2016, he announced his resignation as head of the national assembly.
According to a source in the Gabonese security forces, CryptoAfricaNow(CAN) learned that his arrest could be a political ploy to get him charged with embezzlement as he, among others, is suspected of stealing billions of Gabonese currency during his tenure in power.
How can blockchain help in reducing Africa’s high rate of embezzlement?
Thus, the rate of embezzlement in African government offices is too high, but if blockchain technology is introduced and deployed, the problem may be controlled.
A major step toward combating embezzlers, whose primary activities include changing or deleting information in accounting systems, changing electronic or paper documents, and creating fraudulent files to support their criminal activities, could be contained if African governments could begin developing blockchain management systems as a way to reduce embezzlement of public funds.
Blockchain increases the visibility and openness of each transaction completed along a supply chain and amongst users of the public network, using a shared digital ledger can aid in reducing fraud.
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Ndasi Tata is a Bitcoin entrepreneur from Cameroon, who holds an M.Sc in Blockchain and Digital Currency from the University of Nicosia. He is an advocate of Bitcoin in Africa and uses various social media platforms to promote his ideas and ventures. Tata has a background in state journalism and has established himself as a significant figure in the Bitcoin community.