Breaking News: EFCC Freezes 24 Bank Accounts In Major Move To Halt Terrorism Financing

Breaking News: EFCC Freezes 24 Bank Accounts In Major Move To Halt Terrorism Financing

The Economic and Financial Crimes Commission (EFCC) has successfully obtained a Federal High Court ruling in Abuja, granting approval to freeze 24 bank accounts associated with terrorism financing. The court order was granted…Breaking News: EFCC Freezes 24 Bank Accounts In Major Move To Halt Terrorism Financing

after EFCC’s legal representative, Martha Babatunde, presented an ex-parte motion before Justice Emeka Nwite on December 30, 2024.

The court’s decision permits the EFCC to freeze the identified accounts for 90 days as investigations continue. The accounts are linked to Lawrence Lucky Eromosele, who is under investigation for his involvement in kidnapping and other criminal activities.

EFCC officials suspect that these accounts are being used for money laundering and terrorism financing, with a particular focus on virtual cryptocurrency exchanges being exploited to manipulate the naira and launder illicit funds.

Mohammed Khalil, a lead investigator, confirmed that the syndicate involved posed a significant security threat, even targeting senior National Security Adviser (NSA) operatives with ransom demands. He also revealed that the EFCC had identified bank accounts tied to the suspects, who are believed to be using these funds to support their criminal and terrorist operations.

This latest development highlights the EFCC’s ongoing efforts to clamp down on financial activities linked to terrorism and organized crime. The court has adjourned the case until March 24, 2025, while investigations are expected to be concluded within the next 90 days.

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