The Economic and Financial Crimes Commission (EFCC) has been granted authorization to freeze 1,146 bank accounts associated with individuals and companies under investigation for various offenses, including illegal forex trading, money laundering, and financing terrorism.
Justice Emeka Nwite of the Federal High Court Abuja issued the freeze order on Wednesday, April 24, 2024, stipulating that the accounts remain frozen until investigations are completed.
The court order freezes the bank accounts listed in the schedule, which are owned by individuals currently under investigation for unauthorized dealing in foreign exchange, money laundering, and terrorism financing.
The investigation, lasting 90 days, revealed that these accounts are linked to individuals using virtual cryptocurrency platforms to manipulate the value of the naira and launder proceeds of unlawful activities.
The motion for the freeze order was presented by EFCC counsel Ekele Iheanacho. Entities in logistics, haulage, microfinance, engineering, and agri-businesses were affected by this order.
The case is adjourned for mention on July 23, 2024.
