EFCC Secures Court Order to Freeze 24 Bank Accounts [See Those Affected]

A Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) approval to freeze 24 bank accounts held in various financial institutions as part of an investigation into alleged terrorism financing activities.

Gists9ja reports that the ruling was made by Justice Emeka Nwite after EFCC’s legal representative, Martha Babatunde, presented an ex-parte motion for the court’s consideration. The court authorized the freeze on the accounts for a period of 90 days to facilitate ongoing investigations into the matter.

The motion, labeled FHC/ABJ/CS/1897/V/2024, was submitted by senior counsel Ekele Iheanacho, SAN, who sought the court’s approval to temporarily freeze the accounts belonging to Lawrence Lucky Eromosele, an individual under investigation for suspected involvement in kidnapping. The EFCC is scrutinizing these accounts due to potential connections with money laundering and terrorism financing activities.

According to Iheanacho, preliminary investigations have raised concerns about the involvement of these accounts in illicit activities, including the manipulation of the naira’s value through virtual cryptocurrency exchanges and the laundering of proceeds from criminal endeavors. Given the nature of these allegations, Iheanacho emphasized the need to safeguard the funds in the accounts until the investigation is concluded, and any related prosecutions are finalized.

An affidavit filed by Mohammed Khalil, an investigator with the EFCC’s Special Investigation Team, which operates under the Office of the National Security Adviser (ONSA), provided further insight into the investigation. Khalil revealed that the team had been tasked with addressing a serious threat posed by a criminal syndicate responsible for kidnapping threats against senior NSA operatives. This syndicate had allegedly demanded ransom payments and issued direct threats to the operatives’ families, including providing specific addresses and detailed movements.

In response to these threats, Khalil explained, the team began monitoring the activities of those suspected to be involved. One of the operatives reportedly received a demand for money in exchange for the safety of their family members, which was documented in a chat printout submitted as evidence. The team also identified bank accounts connected to the syndicate, and further intelligence suggested that these accounts were being used to launder funds for terrorist activities.

The EFCC has been working to track and trace the financial transactions linked to these individuals, particularly the manipulation of virtual exchange platforms for illicit purposes. As a result, Khalil argued that it was necessary for the court to approve the freeze on the identified accounts, which are listed in the motion’s Schedule 1.

During the court session, Babatunde, representing the EFCC, confirmed that the motion had been filed on December 17 and sought the court’s approval to freeze the bank accounts named in the motion. Justice Nwite inquired about the duration of the investigation, and Babatunde assured the court that it would be completed within 90 days. In response, the judge granted the request and adjourned the case to March 24, 2025, for further proceedings.