In a major crackdown on alleged terrorism financing, the Federal High Court in Abuja has authorized the Economic and Financial Crimes Commission (EFCC) to freeze 24 bank accounts across multiple banks. The accounts, linked to ongoing investigations involving kidnapping and money laundering, will remain frozen for 90 days to enable the EFCC to conclude its inquiries.
The ruling was delivered by Justice Emeka Nwite following an ex parte application presented by EFCC counsel Martha Babatunde on December 17, 2024. The motion, filed under suit number FHC/ABJ/CS/1897/V/2024, was supported by Senior Advocate of Nigeria (SAN) Ekele Iheanacho. The application specifically targeted accounts associated with Lawrence Lucky Eromosele, a key suspect under investigation for alleged crimes.
According to Iheanacho, the accounts are suspected of facilitating illicit financial activities, including leveraging cryptocurrency exchange platforms to manipulate naira values and launder proceeds from unlawful ventures. He emphasized the need to preserve the funds pending a comprehensive investigation and potential prosecution.
An affidavit from Mohammed Khalil, an investigator with the EFCC’s Special Investigation Team under the Office of the National Security Adviser (ONSA), provided critical details about the case. Khalil revealed that a syndicate, including Eromosele, had issued threats to senior ONSA operatives, demanding ransom payments.
“These threats involved specific details about the operatives’ families, including home addresses and movements. In one instance, an operative was directly contacted with demands for money in exchange for their family’s safety,” Khalil stated. He presented chat logs and bank statements as evidence, indicating that the funds in the accounts were linked to proceeds of crime and terrorism financing.
Further intelligence suggested that the accounts were being used to covertly fund terrorist activities through cryptocurrency platforms. The EFCC urged the court to approve the freezing of the accounts listed in the attached schedule to prevent further misuse.
Justice Nwite, satisfied with the submissions, granted the EFCC’s request and adjourned the matter to March 24, 2025, for mention. Babatunde assured the court that the investigation would be concluded within the 90-day timeframe.
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