Federal High Court in Nigeria has granted an order to the country anti corruption police, the Economic and Financial Crimes Commission, EFCC, to freeze the bank accounts of 1,146 individuals and companies trading on forex in a suspicious manner, aiding, facilitating money laundering and terrorism.

EFCC in a statement few minutes ago, said the suspected individuals and companies are currently under investigation.

The statement reads thus:

“Justice Emeka Nwite of the Federal High Court Abuja, on Wednesday 24, April, 2024 granted the Economic and Financial Crimes Commission, EFCC, an interim order to freeze One Thousand, One Hundred and Forty Six  bank accounts belonging to individuals and companies being investigated for alleged offences bordering on unauthorized dealing in forex exchange, money laundering and terrorism financing.

The judge ordered that the accounts be frozen “pending conclusion of investigation.”

While ruling on a motion moved by the EFCC counsel, Ekele Iheanacho, the judge stated “that an order of this honorable court is hereby made freezing the bank accounts stated in the schedule below which accounts are owned by various individuals who are currently being investigated in a case involving the offences of unauthorized dealing in foreign exchange, money laundering and terrorism financing to the extent that the investigation will be for a period of 90 (ninety) days.”

The judge added “that preliminary investigation conducted thus far reveals that the bank accounts are linked to persons who take advantage of the virtual cryptocurrency exchange platforms to illegally manipulate the value of naira and laundering proceeds of unlawful activities.” 

The judge further stated that there was need to preserve the funds in the identified bank accounts pending conclusion of investigation and possible prosecution.

Justice Nwite adjourned the matter to July 23, 2024, for mention.

Companies affected by the freezing order range from entities involved in  agri-businesses, logistics and haulage, microfinance banks, engineering,  among others”.

EFCC Grills 13 Suspected Oil Thieves in Lagos

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have commenced investigation of 13 suspected oil thieves and a vessel, MT SWEET MIRI, handed over to the Commission by the Nigerian Navy NNS Beecroft, Apapa, Lagos State.

The suspects are: Abu Smith, Pascal Anyafulu, David Ali, Mba Okpanu, Chukuma Friday Obiazi, Miye Victor and Richard Kofi.

Others are: Monday Aidenagbon, Dele Olayemi, Boma Robinson, David George, Onos Edemefe and Suleiman Aremu.

The vessel and the crew were intercepted and arrested on February 27, 2024 by officers of the Nigerian Navy for alleged illegal oil bunkering and Automatic Identification system (AIS) infractions.

The vessel was laden with about 1,322 metric tonnes of substance “confirmed to bear the attributes of crude oil without any document permitting her to be in possession of the substance.”

While receiving the crew members, vessel and product on Wednesday, April 24, 2024, Moses Awolusi, Head, Extractive Industry Fraud Section, EIFS, assured the Navy that the suspects and the exhibits would be subjected to further investigations and prosecution. He also commended the Navy for its collaboration with the EFCC and the good working relationship both agencies had enjoyed over the years.

The suspects will be charged to court as soon as investigations are concluded.

EFCC Reaffirms Commitment to Fight against Cyber Crimes

The Economic and Financial Crimes Commission, EFCC, has restated its commitment to the fight against cyber crimes, stressing that the crimes have become an organized threat and onslaught to the development of nations.

This disclosure was made in Abuja on Monday, April 29, 2024 by the Executive Chairman of the EFCC, Ola Olukoyede while receiving a delegation from the International Criminal Police Organisation, Interpol, that paid him a courtesy visit at the corporate headquarters of the Commission.

“As a matter of fact, a consultant was saying that cybercrime has assumed the third largest GDP in the world. It is a sort of crime that we should not take lightly and comes from the readiness from these countries and law enforcement agencies to collaborate, to share information in such a way that each country will take responsibility for what they are supposed to take responsibility for, ” he said.

Olukoyede pointed out that the EFCC’s operations against cyber crimes are focused, relentless and fruitful. “EFCC, apart from the Police, is one of the prominent, specialised anti-corruption agencies in Nigeria that has the mandate to investigate cybercrime and we have been doing that.

In the last few months, we have secured over five hundred convictions in cybercrimes and over the years we have had cause to collaborate with FBI, NCA and other prominent law enforcement agencies in the world in the area of combating cybercrime. We are much ready to do more and also to encourage the heads of the world to give access to information.”

Earlier in his presentation, leader of the delegation, Craig Jones explained that Interpol was working as a neutral law enforcement agency with private partners across the world to detect and break criminal networks serving fraudsters.

He disclosed that cybercrimes have become global security threats with massive impact. “I think many countries now recognise that cybercrime is actually a national security threat to countries and this goes hand in hand with financial crimes, because the main motivation of cybercrime normally for the criminals is that financial gain and the impact that it makes on the countries and our communities is massive”, he said.

To this end, Jones explained that Interpol continued to identify countries with criminal networks in order to assist them to break such networks.

He also disclosed that a CyberCrimes Convention is being negotiated with the United Nations Organisation, UNO, to draw global attention and commitment to the fight against the menace.

Court Jails Man for ₦12 million Inheritance Fraud in Maiduguri

The Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Wednesday, April 24, 2024, secured the conviction and sentence of one Isiyaku Ibrahim before Justice Umaru Fadawu of the Borno State High Court, Maiduguri.

He was arraigned on July 3, 2023, on one-count charge bordering on criminal misappropriation to the tune of ₦12,000,000.00 for personal use, to the detriment of the family members of the deceased.

And the charge reads: “That you Isiyaku Ibrahim and Mallam Ibrahim sometime between 2014 to 2019 at Jajere Baga Road, Maiduguri, Borno State within the jurisdiction of this Honourable Court, being entrusted with dominion over certain properties belonging to Muhammad Isiyaku (now deceased) to wit: (1), Three Houses, (2), Two fenced lands; one of which had seven shops, (3) ,two bread factories, (4), one open land, (5), two truck tankers and (6), one big installed generator, valued at ₦12,000,000.00 (Twelve Million Naira) only and thereby criminally misappropriated the said amount to your personal use, to the detriment of the family members of the deceased and therefore committed an offence contrary to section 308 of the Penal Code Cap 102 Laws of Borno State and Punishable under section 309 of the same law.” the same law.”

The defendant pleaded “not guilty” to the charge and the matter proceeded to trial, which prompted prosecution counsel, Faruqu Muhammad who presented six witnesses and tendered several documents as exhibits before the court.

Justice Fadawu convicted and sentenced him to one-year imprisonment with an option of ₦100,000 (One Hundred Thousand Naira) fine for the offence of criminal Misappropriation.

Ibrahim bagged his imprisonment when he was arrested by operatives of the Maiduguri Zonal Command of the EFCC for misappropriating properties of a deceased person entrusted to his care.

The properties comprise three houses, two fenced lands, one of which had seven shops, two bread factories, one open land, two truck tankers and one big installed generator, valued at ₦12,000,000.00 (Twelve Million Naira). He was charged to court and convicted.