EFCC Seeks Court Order to Freeze Bank Accounts Tied to Alleged Fraudulent NGO and Book Launch Payments

The Economic and Financial Crimes Commission (EFCC) has approached a court to obtain an order to freeze four bank accounts allegedly linked to suspicious financial activities disguised as payments for a book launch and non-governmental organisation (NGO) operations.

In a motion filed before the court, the EFCC stated that transactions in the accounts — all domiciled with Jaiz Bank — appeared to have been used to conceal fraudulent financial flows.

“The commission has written to Jaiz Bank for the hard copies of the comprehensive account details,” the EFCC noted in its filing. While awaiting the bank’s response, the EFCC has also requested a temporary ‘no debit’ instruction on the accounts, which will last for 72 hours under existing regulatory provisions.

However, the agency stressed that a court order is now required to formally freeze the accounts during the course of the ongoing investigation.

“It is in the interest of justice to grant this application,” the EFCC stated, adding that the order would help preserve evidence and prevent further movement of potentially illicit funds.

The accounts in question are listed in Schedule 1 of the motion paper submitted to the court.

Further details on the individuals or organisations involved have not been publicly disclosed, pending the outcome of the investigation.