FemCo And Its Public Finance Accountability Questioned

The Feminist Coalition (FemCo) has been accused of dicrepancies in its reportage of bitcoin funds donated for the #EndSARS protest, after it claimed a transaction initiated in Nov 2020 didn’t arrive until March 2021, citing low fees.

The group was also accused of not being upfront about its spending.

The feminist group had issued a statement addressing the bitcoin transaction. The March 5 alert was a confirmation of a transaction they initiated on November 16, 2020, according to the FemCo statement.

The group explained that the transaction was part of the sale of 7.21958757 BTC from the #EndSARS wallet for N57,590,000 in naira.

The group said the delay in confirming the bitcoin transaction was a result of them choosing a low “network fee”.

Check the tweet from the Feminist Coalition below:

“One of my followers alerted me to this charity org in Nigeria that appears to be lying about potentially embezzling #BTC funds.

“They claim a transaction initiated Nov 2020 didn’t arrive until March 2021 – due to low fees. Sounds like BS to me,” a twitter user, @TheCryptoDog, wrote.

Also, popular writer, David Hundeyin, in a Twitter thread condemned the organization.

See below:

A block explorer records the date the transaction was initiated, NOT the date it was confirmed.

Kindly see on what date the transaction in question was initiated in the link/screenshot, and compare it with what the statement said.

Facts, not agenda. pic.twitter.com/q8eZmJs9nr

— David Hundeyin (@DavidHundeyin) March 12, 2021

The statement also claims that the chosen transaction fees (0.005BTC) were so low that miners refused to confirm the 0.9BTC transaction (then worth $14,487) for FOUR months.

The tweets below are evidence that this simply is not true. pic.twitter.com/T81M7HJOoH

— David Hundeyin (@DavidHundeyin) March 12, 2021

It is ESPECIALLY preposterous to claim that the transaction was held up this way for FOUR MONTHS until March 5, when presumably the block explorer post-dated itself from November 16.

There is NO reliable data showing bitcoin transactions with such fees taking longer than 17 days

— David Hundeyin (@DavidHundeyin) March 12, 2021

An unconfirmed bitcoin transaction is worthless to the recipient because there exists the risk of something called a double spend, which means a fraudster can broadcast the same transaction twice to the blockchain and get double value for the price of one.https://t.co/xjM7LHfCJY

— David Hundeyin (@DavidHundeyin) March 12, 2021

TLDR: That statement is completely false and should be disregarded.

— David Hundeyin (@DavidHundeyin) March 12, 2021

Last year, the group consisting of 14 women from various forms of activist and non-political backgrounds, became the unofficial rallying voice and coordinating center for the EndSARS movement after establishing a fund that raised nearly 150 million naira ($393,700) to support protesters.

The group aided and sustain the protests with vital facilities such as legal assistance, emergency medical treatment, gloves, and raincoats.

Founding members of the group are: Damilola Odufuwa, Odunayo Eweniyi, Layo Ogunbanwo, Ozzy Etomi, Ire Aderinokun, Fakhrriyyah Hashim, Oluwaseun Ayodeji Osowobi, Jola Ayeye, Laila Johnson-Salami, Karo Omu, Obiageli Ofili Alintah, Tito Ovia, Kiki Mordi, and FK Abudu.