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Court permits EFCC to freeze 1,146 individuals, companies’ accounts

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A Federal High Court, Abuja has granted an interim order sought by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts belonging to individuals and companies over allegations bordering on unauthorised dealing in foreign exchange, among others.
Emeka Nwite, Justice of the Federal High Court, in a ruling on the ex-parte motion moved by counsel for the anti-graft agency, Ekele Iheanacho, also granted the commission’s application to conclude the investigation within 90 days.
Investigations 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.
Nwite consequently adjourned the matter until July 23.

Written by: bossgmsi

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