Justice Emeka Nwite of the Federal High Court in Abuja has granted an interim order to the Economic and Financial Crimes Commission (EFCC) to freeze 1,146 bank accounts. These accounts belong to individuals and companies under investigation for alleged offences related to unauthorized forex dealings, money laundering, and terrorism financing.
The judge emphasized the necessity of freezing the accounts during the ongoing investigation, highlighting concerns about the exploitation of virtual cryptocurrency exchange platforms for illegal activities. This decision shows efforts to curb financial crimes and maintain the integrity of the financial system.
The affected accounts will remain frozen for a period of 90 days pending further investigation and possible prosecution.
The court has adjourned the matter to July 23, 2024, for further proceedings.
Among the entities affected by the freezing order are companies involved in various sectors, including agro-business, logistics, microfinance, and engineering.
