A Federal High Court in Abuja has granted an interim order requested by the Economic and Financial Crimes Commission (EFCC) to freeze 1,146 bank accounts belonging to individuals and companies. The freeze is based on allegations of unauthorized dealing in foreign exchange, money laundering, and terrorism financing. Justice Emeka Nwite granted the order and also approved the EFCC's request to conclude the investigation within 90 days.
The ruling, delivered on April 24, was made public on Monday. The EFCC's application, heard on the same day it was filed, was based on national interest and sought to freeze accounts linked to individuals under investigation for money laundering and terrorism financing. The agency stated that preliminary investigations revealed links between the accounts and illegal activities involving virtual cryptocurrency exchange platforms.
The EFCC's motion, filed under various legal provisions, sought to preserve the funds in the identified accounts pending the investigation and possible prosecution. Justice Nwite adjourned the matter until July 23 for mention. Some of the account names mentioned in the attached schedule include Akitoye Adeyemi Ayomide, Clyp Trading Ltd, Toyetech Platforms Ltd, and Winx International Platforms Ltd, among others.
This development follows a previous order by Justice Nwite requiring Binance Holdings Limited to provide the EFCC with comprehensive data on all persons from Nigeria trading on its platform. The EFCC's investigation team had uncovered alleged market manipulation on Binance, leading to distortions in the Naira's value against other currencies. While the EFCC is prosecuting Binance and its executives for money laundering, the Federal Inland Revenue Service (FIRS) is prosecuting the company for alleged tax evasion.
