EFCC freezes 1,146 bank accounts over alleged money laundering, terrorism financing
The Abuja Division of the Federal High Court has granted an interim order sought by the Economic and Financial Crimes Commission to freeze at least 1,146 bank accounts belonging to individuals and companies over allegations bordering on unauthorised dealing in foreign exchange, among others.
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.
According to the court’s CTC, which was seen on Monday, the ruling was delivered on April 24.
The EFCC, in the motion ex parte marked FHC/ABJ/CS/543/2024 dated and filed April 24 by Mr Iheanacho, was heard by the judge the same day in the interest of national interest.
The motion was brought pursuant to sections 44(2) and (K) of the 1999 Constitution, section 34 of the EFCC Establishment Act 2004, and section 7(8) of the Money Laundering Prevention and Prohibition Act, 2022, and under the court’s inherent jurisdiction.
EFCC had sought the order freezing the bank accounts stated in the schedule attached to the motion pending the conclusion of the investigation.
The bank accounts in respect of which the reliefs were sought are subject matters of investigation by the EFCC concerning money laundering and terrorism financing, said the anti-graft agency, noting that preliminary investigation 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.
The agency said there was a need to preserve the funds in the identified bank accounts pending the conclusion of the investigation and possible prosecution.
The judge consequently adjourned the matter until July 23 for mention.
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 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; Nsofor Donald Nmamdi, GTBank account number 0449088666; Kora Payments Network Ltd-Operations, UBA account number 1022242089; Renderstack Technologies Ltd, Zenith Bank account number 1210355120; Korex Payments Ltd, Globus account number 5000007837; Awe Microfinance Bank Ltd, and Providous account number 5400760781.
Others are Victor Samuel Asuquo, Opay Digital Services Ltd account number 9020132068; Akingbade Sabit Juwon, ECONANK account number 3442053006; Nsofor Donald Nmamdi, Union Bank account number 0140460572; Asuquo Victor Samuel, First Bank account number 3153199542; Oty Ugochukwu Stanley, FCMB account number 4039304011; Oty & Sons Global Concepts, Fidelity Bank account number 6060410145; and Pelumi Ayandoye, Wema Bank account number 0234852277; and David George Ajala, Fidelity Bank account number 5090680780.
On March 18, the judge ordered Binance Holdings Limited to provide EFCC with the comprehensive data or information of all persons from Nigeria trading on its platform.
The judge granted the interim order on Feb. 29 to enable the anti-graft agency to unravel the alleged money laundering and terrorism financing on Binance, a cryptocurrency exchange platform.
The commission had told the judge that its investigation team uncovered users who had been using the platform for price discovery, confirmation and market manipulation which had caused tremendous distortions in the market, resulting in the naira losing its values against other currencies.
It said that the information afforded to the team by Binance showed that the total trading volume from Nigeria in 2023 alone stood at $21.6 billion.
While the EFCC is prosecuting Binance and two of its executives on alleged money laundering charges, the Federal Inland Revenue Service (FIRS) is prosecuting the company on suspected tax evasion offences.
(NAN)
