- A Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) permission to freeze 24 bank accounts linked to alleged terrorism financing.
- The accounts, owned by Lawrence Lucky Eromosele, are under investigation for money laundering and terrorism financing.
- The EFCC was given 90 days to conduct its investigation and possible prosecution.
A Federal High Court in Abuja has authorized the Economic and Financial Crimes Commission (EFCC) to freeze 24 bank accounts suspected of being linked to terrorism financing. The accounts, owned by Lawrence Lucky Eromosele, are currently under investigation for alleged money laundering and terrorism financing.
According to the EFCC’s lawyer, Martha Babatunde, the commission was granted permission to freeze the accounts for 90 days, pending the conclusion of investigations. The motion ex-parte, filed by Ekele Iheanacho, SAN, sought an order freezing the bank accounts, which are domiciled in different banks ¹.
Preliminary investigations revealed that the bank accounts are linked to persons who use virtual cryptocurrency exchange platforms to illegally manipulate the value of the naira and launder proceeds of unlawful activities. The EFCC believes that preserving the funds in these accounts is necessary to prevent the dissipation of funds pending the conclusion of the investigation and possible prosecution ¹.
The investigation is part of a broader effort to address terrorism financing and money laundering in Nigeria. The EFCC has been working to identify and disrupt terrorist financing networks, and the freezing of these bank accounts is a significant step in this effort.
