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EFCC probes 1,146 frozen accounts for money laundering

Written by on April 30, 2024

The Economic and Financial Crimes Commission has pencilled for investigation 1,146 bank accounts belonging to individuals and companies over alleged money laundering, unauthorized dealing in foreign exchange and illegal naira manipulation.

The commission secured an interim order granted by Justice Emeka Nwite of the Federal High Court, Abuja, freezing the accounts.

Justice Nwite delivered the ruling on April 24th, the certified true copy of the interim order was obtained on Monday.

He delivered the ruling on an ex-parte motion moved by counsel for the anti-graft agency, Ekele Iheanacho and granted the commission’s application to conclude the investigation within 90 days. 

The EFCC had told the court that the accounts were linked to persons taking advantage of crypto-currency to illegally manipulate the naira value.

In a move to curb the free fall of the naira against dollars and other foreign currencies, the commission had earlier frozen 300 illegal forex accounts trading on a peer-to-peer platform.

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