THE CABLE
A federal high court in Abuja has granted a request from the Economic and Financial Crimes Commission (EFCC) to freeze 67 bank accounts over alleged N52.9 million fraud.
Emeka Nwite, the presiding judge, granted the ex parte application.
The EFCC had asked the court to empower its chairman, Ola Olukoyede, and other officers of the agency, to instruct the managing directors of the affected banks to stop transactions on the accounts pending the conclusion of investigation.
Martha Babatunde, counsel to the EFCC, told the court that the affected bank accounts contained proceeds of crimes.
Babatunde prayed the court to grant the freeze order in order to prevent the dissipation of the funds.
She added that the application filed by the anti-graft agency was anchored on three grounds.
Asked how long it would take the agency to investigate, Babatunde said 90 days.
READ THE FULL STORY IN THE CABLE
Connect with us on our socials: