A Federal High Court in Abuja has issued a temporary order to freeze 21 bank accounts across 13 commercial banks in Nigeria and directed the arrest of their holders. Justice Emeka Nwite issued the order following an ex-parte motion presented by Ibrahim Mohammed, counsel to the Inspector-General of Police (I-G). The court ordered the banks to restrict withdrawals, place a “Post-No-Debit” (PND) on the accounts, disable ATMs linked to them, and allow only deposits during the investigation. This directive is set to remain in effect for a 90-day investigation period. Affected Banks The affected banks include Access Bank Plc, Sterling Bank Ltd, Wema Bank Plc, Fidelity Bank Plc, Zenith Bank Plc, Union Bank Plc, Guarantee Trust Bank Ltd, United Bank of Africa Plc, Stanbic IBTC Bank Plc, First Monument Bank Plc, Heritage Bank Plc, TAJ Bank Plc, and Keystone Bank Plc. Basis for the Order The I-G filed the motion as part of a case marked FHC/ABJ/CS/1965/V/2024, claiming the accounts are suspected of housing funds linked to unlawful activities, including fraud. According to Mohammed, any transactions involving these accounts would undermine the ongoing investigation. Background of the Case The investigation stems from a petition received on February 12, 2024, alleging theft and breach of trust involving a joint venture agreement between two parties. Allegations of Misconduct The accused allegedly manipulated the joint account by removing the complainant as a signatory, making himself the sole signatory. The funds meant for contract execution were reportedly diverted to multiple accounts to conceal their origin, a tactic described as promoting money laundering. Detective Glory Ohio, attached to the Force Criminal Investigation Department, stated that the suspect’s activities were motivated by a deliberate intent to steal from the joint account. Transfers were traced back to other accounts controlled by the suspect, further raising concerns about the legality of the transactions. Implications The court has adjourned the matter until April 3 for further deliberations. In the meantime, the freeze ensures the accounts remain inaccessible, preventing further withdrawals that could compromise the investigation. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
The Economic and Financial Crimes Commission (EFCC) has announced a significant achievement, reporting the recovery of over N248 billion within the past year. This information was revealed by Wilson Uwajaren, the Director of Public Affairs for the Commission, during a press briefing on Thursday, where he provided an overview of the agency’s recent accomplishments in combating financial crimes. In addition to the impressive monetary recoveries, Uwajaren noted that the EFCC has also managed to recover more than £53,000 and €172,000. He highlighted that €5,000 was specifically recovered for victims of crime based in Spain, illustrating the Commission’s commitment to supporting those impacted by financial wrongdoing. Uwajaren emphasized that the EFCC is enhancing its rapid response strategies, which are expected to lead to a notable reduction in cybercrime activities across the nation. This proactive approach aims to deter potential offenders and bolster public confidence in the Commission’s effectiveness. READ ALSO: Wike: Young People Who Disapprove of Taxi Driving in Nigeria Accept It Abroad Furthermore, he reported that the EFCC has successfully secured over 35 convictions related to the abuse of the Naira by individuals at social events, demonstrating the agency’s determination to tackle financial misconduct in various sectors. To expand its reach and improve operations, Uwajaren announced that three new directorates will be established in the states of Ekiti, Katsina, and Anambra. This strategic expansion is part of the EFCC’s ongoing efforts to enhance its capabilities in fighting economic and financial crimes throughout Nigeria. We Love To Have You Back. Pease kindly Provide Us With Your Email.
