The Federal High Court in Abuja has granted the Economic and Financial Crimes Commission (EFCC) permission to freeze 67 bank accounts across various financial institutions in connection with an alleged ₦52.9 million fraud.
Justice Emeka Nwite approved the ex-parte application filed by EFCC counsel Martha Babatunde on behalf of the commission. The motion, marked FHC/ABJ/CS/1895/V/2024, sought an order allowing the EFCC chairman or authorised officers to direct banks to freeze the accounts, halting all transactions during the investigation.
In an affidavit presented by EFCC investigator Ikenna Chukwueze, it was revealed that the investigation stemmed from a criminal petition received on October 17, 2023. The petition, signed by a representative of ADSEL, alleged internet fraud, conspiracy, and unauthorised withdrawals totaling ₦52,991,000.
Allegations of Fund Misappropriation
The petition accused Taiwo Abubakar Oluwajuwon, owner of Heasy Enterprises, of withdrawing ₦50 million from ADSEL’s corporate account with VFD Microfinance Bank on October 16, 2023. The funds were then transferred to Heasy Enterprises’ account at Moniepoint Microfinance Bank.
The EFCC’s investigation uncovered that the stolen funds were distributed across various accounts, including:
₦19.99 million transferred to Litano Pro Limited Resources.
₦11 million transferred to Nwezeocha E-N Enterprises.
₦11.44 million and ₦10 million transferred to accounts belonging to Chigozie Okpala.
₦10 million transferred to Chukwudalu Jude Owulu.
A BVN search linked multiple accounts to the suspects, prompting the EFCC to seek the court’s intervention to preserve the funds while investigations continue.
Accounts Under Investigation
The 67 frozen accounts span numerous banks, including Union Bank, Stanbic IBTC, GTBank, Wema Bank, Zenith Bank, Access Bank, and others.
Justice Nwite, deeming the application meritorious, granted a 90-day freezing order and adjourned the matter until March 24 for further mention.
The EFCC aims to ensure the integrity of the investigation and prevent the dissipation of funds potentially linked to criminal activities.
 permission to freeze 67 bank accounts ...){kind=link}