A Federal High Court in Abuja has approved the Economic and Financial Crimes Commission’s (EFCC) request to freeze 67 bank accounts linked to an alleged ₦52.9 million fraud case.
Key Highlights:
Justice Emeka Nwite granted the EFCC’s application after the agency’s counsel, Martha Babatunde, presented an ex-parte motion. The motion, filed under suit number FHC/ABJ/CS/1895/V/2024, sought permission to halt transactions in these accounts pending the conclusion of investigations.
The accounts, domiciled in various banks, reportedly contain proceeds of a crime linked to unauthorized withdrawals and internet fraud.
Details of the Case
The investigation began following a criminal petition submitted to the EFCC on October 17, 2023, by Advance Development Services Engineering Limited (ADSEL). The complaint accused Taiwo Abubakar Oluwajuwon and Heasy Enterprises of fraudulent activities involving ₦52.9 million.
According to the EFCC’s investigator, Ikenna Chukwueze, a preliminary investigation revealed:
- The petitioner’s corporate account with VFD Microfinance Bank was compromised, resulting in ₦50 million being swiftly transferred to an account with Moniepoint Microfinance Bank belonging to Heasy Enterprises.
- Subsequent transactions saw these funds dispersed across multiple accounts belonging to various individuals and entities.
The EFCC presented several exhibits to support their findings, including account statements of the alleged beneficiaries and details of the transactions.
EFCC’s Request
The EFCC argued that freezing the accounts is essential to prevent the dissipation of the fraud proceeds while investigations continue. Justice Nwite approved the application, noting its merit, and set the next hearing date for March 24, 2024.
Investigation Insights
Chukwueze disclosed that a BVN search revealed additional accounts linked to the suspects, further complicating the case. Key findings include:
- Transfers of significant amounts (₦19.99m, ₦11m, ₦10m, and more) to entities like Litano Pro Limited Resources and individuals such as Chigozie Okpala and Chukwudalu Jude Owulu.
- The accounts are spread across multiple financial institutions, including Union Bank, Stanbic IBTC, GTBank, Wema Bank, Zenith Bank, Access Bank, and others.
The EFCC emphasized that freezing these accounts is critical to preserving the funds while investigations proceed.
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