The Economic and Financial Crimes Commission (EFCC) says it has frozen over 300 accounts on suspicion of being linked to illicit forex trading which would have led to the crash of the naira within the next one week.
This was made known by the Chairman of EFCC, Ola Olukoyede, during an interactive session with editors and Abuja bureau chiefs of some media organizations, on Tuesday, April 23, 2024, in Abuja, where he noted that the accounts were frozen following a court order.
Olukoyede said the anti-graft agency has discovered another worse scheme other than the crypto trading platform, Binance, and its system.
He said the agency has frozen about 300 accounts to ensure the safety of the foreign exchange market.
The scheme popularly called the “P to P” peer-to-peer financial trading scheme has operated outside the official banking and financial corridors and there was a looming disaster that could further crash the Naira value that has continued to gain.
The EFCC boss noted that there are people within the system who are carrying out activities worse than Binance using P2P platforms.
Explaining further, Olukoyede said these 300 illicit accounts would have led to a crash of the naira in the next week if the EFCC hadn’t moved against them.