EFCC Granted Court Approval to Freeze 24 Accounts Linked to Terrorism Financing
A Federal High Court in Abuja has authorized the Economic and Financial Crimes Commission (EFCC) to freeze 24 bank accounts linked to alleged terrorism financing activities.
The court granted this order for a period of 90 days, allowing the EFCC to preserve the funds while conducting its investigation.
The EFCC’s application, filed on December 17, 2024, was presented by Ekele Iheanacho, SAN. The motion detailed that the accounts in question are associated with individuals suspected of exploiting virtual cryptocurrency exchange platforms to manipulate the value of the naira and launder proceeds from illegal activities.
The EFCC emphasized the necessity of freezing these accounts to prevent the dissipation of funds during the ongoing investigation.
Justice Emeka Nwite, presiding over the case, approved the EFCC’s request and adjourned the matter to March 24, 2025, for further proceedings. This development underscores the Nigerian government’s commitment to combating terrorism financing and enhancing national security.