Court permits EFCC to freeze 67 bank accounts with Zenith, Moniepoint, others over fraud
The Federal High Court in Abuja has permitted the Economic and Financial Crimes Commission (EFCC) to freeze 67 bank accounts across various banks in connection with an alleged ₦52.9 million fraud.
Justice Emeka Nwite issued the order following an ex-parte motion filed by EFCC’s counsel, Martha Babatunde, on December 17, 2024.
The motion sought to empower the EFCC’s chairman or any authorised officer to direct bank managing directors to suspend all outward transactions on the accounts pending the conclusion of investigations.
Babatunde told the court, “Our motion prays for an order of this honourable court freezing the bank accounts as stated in the schedule attached. There are three grounds attached.”
Justice Nwite, satisfied with the merits of the application, granted the request and adjourned the matter until March 24, 2025, for mention.
An EFCC investigator, Ikenna Chukwueze, revealed that the case stemmed from a petition filed on October 17, 2023, by Advance Development Services Engineering Limited (ADSEL). The complaint accused Taiwo Abubakar Oluwajuwon and his company, Heasy Enterprises, of internet fraud, conspiracy, and unauthorised withdrawal of ₦52,991,000.
The investigation revealed that ₦50 million was fraudulently withdrawn from ADSEL’s corporate account at VFD Microfinance Bank and transferred to an account at Moniepoint Microfinance Bank belonging to Heasy Enterprises.
Further probes uncovered subsequent transfers to multiple accounts, including:
– ₦19.99 million to Litano Pro Limited Resources
– ₦11 million to Nwezeocha E-N Enterprises
– ₦11.44 million and ₦10 million to Chigozie Okpala
– ₦10 million to Chukwudalu Jude Owulu
Read also: EFCC arrests Delta Accountant General over ‘N1.3trn Fraud’
The EFCC presented evidence, including account statements and BVN searches to support its claims. The freezing order was deemed necessary to prevent the dissipation of the funds during ongoing investigations.
The implicated accounts span various banks, including Union Bank, Stanbic IBTC, GTBank, Zenith Bank, Moniepoint, Keystone Bank, and several others.
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