A Federal High Court in Abuja has approved an interim order requested by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts owned by various individuals and companies allegedly involved in illegal foreign exchange transactions.
Justice Emeka Nwite, in a decision on the ex-parte motion presented by the anti-graft agency’s lawyer, Ekele Iheanacho, also approved the commission’s request to complete the investigation within 90 days.
Though the verdict was issued on April 24, its certified true copy was granted on Monday.
The other offenses under investigation by the EFCC involve money laundering and terrorism financing.
- 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.”
Backstory
The EFCC, in the motion ex-parte labeled: FHC/ABJ/CS/543/2024 dated and filed on April 24 by Iheanacho, was presented before the judge the same day in the interest of national security.
The motion was filed 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.
The agency had requested an order to freeze the bank accounts listed in the schedule attached to the motion until the investigation is completed.
Providing three reasons for seeking the reliefs, it said:
- “The bank accounts in respect of which the reliefs are sought are subject matters of investigation by the EFCC in relation to money laundering and terrorism financing.
- “That preliminary investigation conducted thus far reveals that the bank accounts are linked to persons who take advantage of the virtual crypto currency exchange platforms to illegally manipulate the value of Naira and launder proceeds of unlawful activities.
- “That there is need to preserve the funds in the identified bank accounts pending the conclusion of investigation and possible prosecution.”
Justice Nwite consequently adjourned the matter until July 23 for mention.
More Insights
- Some of the account names mentioned in the attached schedule are Akitoye Adeyemi Ayomide with GTBank account number; 0165110025; Clyp Trading Ltd, Titan Trust Bank account number: 0000331101; Clyp Consulting Ltd, Providous account number: 9401374554; and Toyetech Platforms Ltd, Titan Trust Bank account number: 0000134962.
- They also include Winx International Platforms Ltd, Titan Trust Bank account number: 0000135055; Shutterscore Trading Platforms Ltd, Access Bank account number: 1532363954; Tradecillion Trading Ltd, Stanbic IBTC account number: 0045672922; and Nsofor Donald Nmamdi, GTBank account number: 0449088666
- They equally include Kora Payments Network Ltd-Operations, UBA account number: 1022242089; Renderstack Technologies Ltd, Zenith Bank account number: 1210355120; Korex Payments Ltd, Globus account number: 5000007837; and Awe Microfinance Bank Ltd, Providous account number: 5400760781; and Victor Samuel Asuquo, Opay Digital Services Ltd account number: 9020132068.
