A Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) permission to freeze 67 bank accounts over alleged terrorism financing.
Justice Emeka Nwite approved the EFCC’s request following an ex-parte motion filed by the commission’s lawyer, Martha Babatunde, allowing the accounts to be frozen for 90 days while investigations are ongoing.
The motion, marked FHC/ABJ/CS/1897/V/2024, was filed by Senior Advocate of Nigeria (SAN) Ekele Iheanacho. Iheanacho sought the court’s order to freeze accounts connected to Lawrence Lucky Eromosele, who is under investigation for his alleged involvement in a kidnapping case.
According to Iheanacho, the accounts are linked to money laundering and terrorism financing activities.
In her submission, Babatunde explained that preliminary investigations had shown the accounts were tied to individuals using virtual cryptocurrency platforms to manipulate the value of the naira and launder funds from illegal activities.
She argued that freezing the accounts was necessary to preserve the funds while the investigation progresses.
Mohammed Khalil, an investigator with the EFCC’s Special Investigation Team at the National Security Adviser’s (ONSA) office, provided details of the investigation. Khalil stated that the investigation was prompted by threats made by a criminal syndicate against senior National Security Adviser operatives, demanding ransom payments.
The team traced these threats to individuals, including Eromosele, and identified the bank accounts used for illicit financial transactions.
Khalil further explained that the investigation uncovered that these accounts were involved in exchanging funds for criminal and terrorist activities through cryptocurrency platforms.
He emphasized the need to freeze these accounts to prevent the transfer of funds while the probe continues.
The EFCC’s motion was filed on December 17, and Babatunde requested that the court grant the order to freeze the accounts listed in the application.
The judge, after hearing the arguments, granted the request, approving the freeze for 90 days.
The case is adjourned to March 24, 2025, for further proceedings.
