EFCC Gets Court Approval To Freeze 24 Bank Accounts [See Those Affected]

A Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) permission to freeze 24 bank accounts across various financial institutions, linked to allegations of terrorism financing.

Justice Emeka Nwite issued the ruling following an ex-parte motion presented by EFCC counsel Martha Babatunde, on behalf of Senior Advocate of Nigeria, Ekele Iheanacho. The motion, designated FHC/ABJ/CS/1897/V/2024, sought to freeze accounts owned by Lawrence Lucky Eromosele, who is under investigation for kidnapping-related activities.

According to Iheanacho, preliminary investigations revealed that the accounts are allegedly connected to individuals using virtual cryptocurrency platforms to manipulate the naira’s value and launder proceeds from illegal activities. He emphasized that freezing the accounts was essential to protect the funds until the conclusion of the investigation and any subsequent prosecution.

The investigation, led by Mohammed Khalil, an EFCC investigator with the Special Investigation Team under the Office of the National Security Adviser (ONSA), was initiated following directives from National Security Adviser Nuhu Ribadu. The team was tasked with investigating threats posed by a syndicate targeting senior NSA operatives, allegedly demanding ransom payments.

Khalil’s affidavit revealed that the operatives had received threats detailing their family members’ locations, movements, and home addresses, along with demands for ransom payments to guarantee their safety. The threats were accompanied by detailed information, with one operative receiving a direct demand for payment to protect their family.

To address these threats, the EFCC identified bank accounts linked to the perpetrators. Khalil stated that intelligence indicated proceeds from criminal activities and funds for terrorism were being covertly exchanged through these accounts. Supporting documents, including chat records and bank statements, were submitted as evidence.

During the hearing, Babatunde confirmed that the EFCC’s investigation would be completed within 90 days and requested the court’s approval to freeze the accounts listed in the motion’s schedule. Justice Nwite granted the request and adjourned the case until March 24, 2025, for further proceedings.