EFCC Secures 90 day Order Freezing 24 Banks Accounts Linked to Terrorism Financing

Ogunsakin Mustapha
2 Min Read

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 and money laundering.

Justice Emeka Nwite approved the EFCC’s request after its counsel, Martha Babatunde, moved an ex-parte motion to freeze the accounts for 90 days while investigations continue.

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The accounts, owned by Lawrence Eromosele, are reportedly under scrutiny as part of an ongoing investigation into kidnapping, money laundering, and alleged manipulation of naira value through cryptocurrency platforms. The motion, marked FHC/ABJ/CS/1897/V/2024, was filed on December 17 by Senior Advocate of Nigeria (SAN), Ekele Iheanacho.

According to Mohammed Khalil, an EFCC investigator attached to the Office of the National Security Adviser (ONSA), the accounts are linked to a syndicate accused of threatening the lives of senior ONSA operatives and their families. Khalil stated that the perpetrators had issued ransom demands, shared sensitive information about operatives’ movements, and used the accounts to launder proceeds of crime and fund illicit activities.

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The court was presented with evidence, including chat logs and bank statements, tying the accounts to the suspects. The EFCC argued that freezing the accounts was necessary to preserve the funds during the investigation and any potential prosecution.

Justice Nwite granted the order and adjourned the matter until March 24, 2025, for mention. The EFCC has been tasked with completing its investigation within the 90-day period.

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