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

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.

The News Agency of Nigeria (NAN) reports that other offences being investigated by the EFCC bordered on money laundering and terrorism financing.

Justice Emeka Nwite, 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.

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.”