A 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.
The decision was made after EFCC’s lawyer, Martha Babatunde, presented an ex parte motion before Justice Emeka Nwite.
The court granted the application, allowing the accounts to be frozen for 90 days, pending the conclusion of the ongoing investigation.
The motion, marked FHC/ABJ/CS/1897/V/2024, was filed by Ekele Iheanacho, SAN, on behalf of the EFCC.
The motion sought an order to freeze accounts belonging to Lawrence Lucky Eromosele, who is currently under investigation for his alleged involvement in a kidnapping case.
According to the EFCC, these accounts are connected to a larger investigation into money laundering and terrorism financing activities.
In her presentation, Babatunde explained that preliminary investigations had revealed that the accounts were being used to illegally manipulate the value of the naira through virtual cryptocurrency exchange platforms.
This was part of a scheme to launder proceeds from criminal activities, including terrorism financing.
An affidavit by Mohammed Khalil, an investigator with the EFCC’s Special Investigation Team attached to the Office of the National Security Adviser (ONSA), revealed the gravity of the threat posed by the syndicate under investigation.
Khalil noted that the group had made direct threats against the lives of senior National Security Adviser (NSA) operatives and their families, demanding ransom payments.
The investigation also uncovered evidence linking Eromosele to the syndicate involved in these activities.
Further intelligence showed that the funds used for these illicit activities were covertly exchanged through the same bank accounts, strengthening the need to freeze the accounts in question.
Justice Nwite, in granting the request, emphasized the necessity of preserving the funds in the identified accounts to prevent further illegal transactions.
The judge adjourned the matter until March 24, 2025, for mention, while the investigation continues.
EFCC has vowed to pursue the investigation vigorously, with an eye on potential prosecution as more information comes to light.
The case highlights the growing challenge of combating financial crimes linked to terrorism financing and the abuse of virtual platforms for criminal activities.