A Federal High Court in Abuja has authorized the freezing of five bank accounts linked to an alleged fraud involving the diversion of N48 million intended for the purchase of a cryptocurrency mining rig. The order, granted on November 28, 2024, follows a request by the Economic and Financial Crimes Commission (EFCC).
Dimeji Christopher and other suspects are accused of offering an investment opportunity in crypto mining, promising substantial returns to investors. The complainants transferred N48 million to various bank accounts provided by the suspects, expecting the purchase of a mining rig. However, the expected returns were not delivered, and the principal investment was not refunded, leading to the EFCC’s investigation.
The mining rig, a specialized computer used for cryptocurrency mining, was supposed to be the focus of the investment. According to the EFCC, instead of using the funds as promised, Christopher allegedly diverted the money for personal use and disbursed portions to accomplices.
In court, EFCC lawyer Stanley Obilo requested that the freezing order be extended for another 90 days. He asked the court to prevent any transactions, including payments and withdrawals, from the implicated bank accounts until the investigation is concluded. After reviewing the motion and affidavits, Justice Emeka Nwite granted a 60-day interim order, adjourning the case to January 29, 2025, for a report.
The EFCC continues its investigation to uncover the full details of the fraudulent scheme and identify all individuals involved. While the court has ordered the affected banks to block transactions, the suspects can challenge the freezing order. If the court does not extend it, the accounts may be unfrozen after the 60-day period ends.
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