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.
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.
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.”
TimesNow.com.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.
Source: TimesNow.com.ng
