FX Crisis: Court Approves EFCC To Freeze 1,146 Accounts Involved In Illicit Transactions

The Economic and Financial Crimes Commission (EFCC) filed an interim order to freeze at least 1,146 bank accounts owned by various people and businesses that are allegedly involved in unlawful foreign currency transactions. The Federal High Court in Abuja accepted the order.

In ruling on the ex-parte application filed by Ekele Iheanacho, the attorney for the anti-graft agency, Justice Emeka Nwite also granted the commission’s plea to wrap up the inquiry in ninety days.

The certified genuine copy of the verdict, which was rendered on April 24, was approved on Monday.

The other offenses under investigation by the EFCC involve money laundering and terrorism financing.

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Justice Nwite said: “It is hereby ordered as follows:

“That the applicant’s application is hereby granted as prayed.

“That an order of this honourable 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 (Ninety) days.”