EFCC Probes 1,146 Frozen Accounts.

In view of the continuation of its crackdown on forex racketeers, the Economic and Financial Crimes Commission has listed for investigation, 1,146 bank accounts belonging to individuals and companies over alleged money laundering, as well as unauthorized dealing in foreign exchange and illegal naira manipulation.

The commission secured an interim order granted by Justice Emeka Nwite of the Federal High Court, Abuja, freezing the accounts.

Justice Nwite delivered the ruling on April 24, and in the ruling on an ex-parte motion moved by counsel for the anti-graft agency, Ekele Iheanacho and granted the commission’s application to conclude the investigation within 90 days.

The EFCC had told the court that, the accounts were linked to persons taking advantage of crypto-currency to illegally manipulate the naira value, adding that, in order to curb the free fall of the naira against dollars and other foreign currencies, the commission had earlier frozen 300 illegal forex accounts trading on a peer-to-peer platform.

The EFCC Chairman, Ola Olukoyede, a few weeks ago said, the accounts were suspended last week Monday following a court order, stressing that, over $15 billion dollars  passed through one of the forex platforms last year, while, outside the financial regulations, the EFCC action was taken to ensure the safety of the foreign exchange market and protect the economy