Alleged Terrorism Financing: Court Gives EFCC Go-ahead To Freeze 24 Bank Accounts

A Federal High Court in Abuja has okayed the Economic and Financial Crimes Commission (EFCC)’s application to freeze 24 bank accounts domiciled in different banks over allegations of terrorism financing.

Justice Emeka Nwite granted the application after the EFCC’s lawyer, Martha Babatunde, moved an ex-parte motion to the effect, giving the commission the go-ahead to freeze the accounts for 90 days pending the conclusion of the investigation.

The News Agency of Nigeria (NAN) reports that Ekele Iheanacho, SAN, filed the motion ex-parte, marked FHC/ABJ/CS/1897/V/2024.

Iheanacho sought an order freezing the bank accounts stated in the schedule, which accounts are owned by Lawrence Lucky Eromosele, who is currently being investigated in a case involving kidnapping pending the conclusion of the investigation.

He said the bank accounts from which the reliefs were sought are the subject of an EFCC investigation for money laundering and terrorism financing.

The senior lawyer said the preliminary investigation conducted thus far revealed that the bank accounts are linked to persons who take advantage of the virtual cryptocurrency exchange platforms to illegally manipulate the value of naira and laundering proceeds of unlawful activities.

He said the funds in the identified bank accounts needed to be preserved pending the conclusion of the investigation and possible prosecution.

In the affidavit deposed to by Mohammed Khalil, an investigator attached to the Special Investigation Team of the EFCC domiciled in the Office of the National Security Adviser (ONSA), he said he was a member of the team assigned to investigate the matter.

He said the National Security Adviser (NSA), Nuhu Ribadu, directed the team to investigate a serious threat by a syndicate threatening the lives of senior operatives of the NSA by making demands for payments of ransom.

He said that upon receiving the directive, the team began investigating by monitoring the activities of these syndicates and requesting bank instruments.

Kalil said the investigation revealed Lawrence Lucky Eromosele as one of the perpetrators of the crime.
According to him, the operatives received a direct threat involving their families, with the perpetrators providing the home addresses, family locations and specific movements with a threat to kidnap following failure to remit redemption payments.

He alleged that “one unknown individual contacted an operative, demanding some money in exchange for their freedom and that of their families.”

“Attached and marked as Exhibit EFCC 1 is the printout of the chat between one of the perpetrators and the operative.”

The officer said that to mitigate some of the threats, the team had identified bank accounts linked to the individuals making the threats.

“Attached and marked as Exhibit EFCC 2 are the bank statements of one of the suspects.

“Further intelligence has revealed that proceeds of crimes and funds for terrorist activities are covertly exchanged through these platforms,” he said.

Kalil said the court’s order was necessary to freeze the accounts clearly described in Schedule 1 of the motion paper, for which an investigation is ongoing.

Upon resumed hearing, Babatunde, who appeared for EFCC, informed the court that the motion was dated and filed on December 17.

She said the motion prayed for an order freezing the bank accounts in the schedule attached to the application.

The lawyer urged the court to grant the relief. When Justice Nwite asked her how long the investigation would be conducted, Babatunde said within 90 days. The judge, who granted the prayer, adjourned the matter until March 24, 2025, for mention.