EFCC Gets Nod To Block Fresh 1,146 Bank Accounts Over Forex Transactions

EFCC has gotten a nod from the court to block fresh 1,146 bank accounts over forex transactions.

 

NewsOnline Nigeria reports that the Federal High Court in Abuja has granted an interim order to the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts belonging to individuals and companies over “unauthorised foreign exchange” transactions.

 

The commission is also investigating the individuals for “money laundering and terrorism financing”.

The presiding judge, Justice Emeka Nwite, granted the order while ruling on an ex-parte motion moved by Ekele Iheanacho, counsel to the EFCC.

 

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The court also ordered the commission to conclude the investigation within 90 days.

 

“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,” the judge ruled.

 

The motion by the anti-graft agency was brought under section 44 (2) and (K) of the 1999 Constitution; section 34 of the EFCC Establishment Act 2004; section 7(8) of the Money Laundering Prevention and Prohibition Act 2022 and under the inherent jurisdiction of the court.

 

Justice Nwite consequently adjourned the matter until July 23 for mention.

 

The ruling was delivered on April 24, and the Certified True Copy was seen by NewsOnline Nigeria on Monday