After Freezing 1,146 Bank Accounts, Court Gives New Order on $37 Million in Crypto Wallet
- A federal high court in Abuja has granted the EFCC an interim order to freeze four bitcoin wallets
- Presiding Judge Emeka Nwite granted the injunction while ruling on an ex-parte request filed by the EFCC
- The assets that comprise the bulk of the total sum are USDT 90, USDT 967, USDT 443,512.37, and USDT 37 million
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
The Economic and Financial Crimes Commission (EFCC) has been given an interim injunction by a federal high court in Abuja to freeze four cryptocurrency wallets valued at $37 million in order to prevent money laundering.
Source: Getty Images
The injunction was granted by Presiding Judge Emeka Nwite during her decision on an ex-parte motion that the EFCC had submitted.
According to the copy seen by TheCable on Tuesday, July 13, the ruling was delivered on August 8.
The commission requested that 37,061,867,869.3 worth of cryptocurrencies be frozen based on the paper.
The assets that make up the majority of the entire amount are USDT 37 million, followed by USDT 443,512.37, USDT 967, and USDT 90.
The EFCC's attorney, O.S. Ujam, spoke with the judge throughout the hearing about the motion; no counterarguments or objections were raised.
According to the EFCC, the assets are the results of financing terrorism and money laundering.
“That an order of this honourable court is hereby made freezing the wallet addresses/accounts stated in the schedule below, which wallets are owned by individuals currently being investigated for offences of money laundering and terrorism financing, pending the conclusion of the investigation,” the judge ruled.
However, the agency withheld the wallet owners' identities from the public in its application.
The EFCC was ordered to freeze at least 1,146 bank accounts belonging to people and businesses on April 19 by a federal high court in Abuja due to unauthorised foreign exchange activities.
Additionally, the commission was looking into the people and businesses for "money laundering and financing terrorism."
Crypto billionaire Blord arrested over fraud allegations
Legit.ng reported that the Nigeria Police Force, Abuja division, has arrested a crypto billionaire, Linus Williams, better referred to as Blord.
Blord was arrested in Abuja, on Monday, July 15, following allegations of cryptocurrency fraud, terrorism funding, and aiding internet fraud, among others, against his companies.
The Force spokesperson, Muyiwa Adejobi, confirmed Blord's arrest via a statement shared on his X page on Tuesday.
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Source: Legit.ng
