Court okays EFCC’s request to freeze 24 accounts over alleged terrorism financing

The Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) permission to freeze 24 bank accounts linked to allegations of terrorism financing and money laundering.

Justice Emeka Nwite issued the 90-day freezing order after EFCC counsel Martha Babatunde moved an ex parte motion. The motion, filed by Senior Advocate of Nigeria (SAN) Ekele Iheanacho, sought to freeze the accounts, which are allegedly connected to Lawrence Lucky Eromosele.

Eromosele is currently under investigation for his involvement in kidnapping and other unlawful activities. Preliminary findings revealed that the accounts were used to exploit cryptocurrency exchange platforms, manipulate the naira’s value, and launder proceeds from illegal operations.

Mohammed Khalil, an investigator with the EFCC’s Special Investigation Team under the Office of the National Security Adviser (ONSA), detailed the gravity of the case in an affidavit. He disclosed that the investigation stemmed from directives by National Security Adviser Nuhu Ribadu, following threats from a criminal syndicate targeting senior ONSA operatives.

Khalil further revealed that the syndicate had issued direct threats against the operatives and their families, providing detailed information about their residences and movements. The criminals allegedly demanded ransom payments, with the accounts in question serving as channels for their illicit transactions.

He alleged that “one unknown individual contacted an operative, demoing some monies in exchange for their freedom and that of their families.”

“Attached and marked as Exhibit EFCC 1 is the printout of the chat between one of the perpetrators and the operative.”

The officer said in a bid to mitigate some of the threats, the team had identified bank accounts linked to the individuals making the threats.

“Attached and marked as Exhibit EFCC 2 are the bank statements of one of the suspects.

“Further intelligence has revealed that proceeds of crimes and funds for terrorist activities are covertly exchanged through these platforms,” he said.

Kalil said the order of the court was necessary to freeze the said accounts clearly described in Schedule 1 to the motion paper for which investigation is ongoing.

Upon resumed hearing, Babatunde, who appeared for EFCC, informed the court that the motion was dated and filed on Dec. 17.

She said the motion prayed for an order freezing the bank accounts in the schedule attached to the application.

The lawyer urged the court to grant the relief.

When Justice Nwite asked her how long the investigation would be conducted, Babatunde said within 90 days.

The judge, who granted the prayer, adjourned the matter until March 24, 2025, for mention. (NAN)