Justice Emeka Nwite of the Federal High Court Abuja has issued an interim order granting the Economic and Financial Crimes Commission, EFCC permission to freeze 1,146 bank accounts.
The accounts in question belong to individuals and companies under investigation for suspected involvement in unauthorized forex exchange dealings, money laundering, and financing terrorism.
The judge ordered that the accounts be frozen pending the conclusion of the investigation.
While ruling on a motion moved by the EFCC counsel, Ekele Iheanacho, the judge stated, “an order of this honorable court is hereby made freezing the bank accounts stated in the schedule below which accounts are owned by various individuals who are currently being investigated in a case involving the offences of unauthorised dealing in foreign exchange, money laundering and terrorism financing to the extent that the investigation will be for a period of 90 days.”
The judge added, “that preliminary investigation conducted thus far reveals that the bank accounts are linked to persons who take advantage of the virtual cryptocurrency exchange platforms to illegally manipulate the value of naira and launder proceeds of unlawful activities.”
The judge further stated that there was a need to preserve the funds in the identified bank accounts pending the conclusion of the investigation and possible prosecution.
Justice Nwite adjourned the matter to July 23, 2024, for mention.
Companies affected by the freezing order range from entities involved in agro-businesses, logistics and haulage, microfinance banks, and engineering, among others.
