December 19, 2024
EFCC Freezes Over 300 Accounts Linked To Illegal FX Trading
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EFCC Freezes Over 300 Accounts Linked To Illegal FX Trading

The Economic and Financial Crimes Commission, EFCC, has frozen over 300 accounts linked to illicit foreign exchange (FX) trading.

Speaking in Abuja on Tuesday, the EFCC Chairman, Ola Olukoyede, who noted that the agency secured a court order to freeze the accounts, says there are people in the country doing worse than Binance.

He also says over $15 billion passed through one of the platforms in the last year, which was not regulated by financial regulators.

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Recall that on March 22, Binance Executive Nadeem Anjarwalla escaped from an Abuja guest house where he and Tigran Gambaryan, his colleague, had been kept by the Federal Government.

On February 27th this year, Mr. Olayemi Cardoso, the governor of the Central Bank of Nigeria, CBN, said $26 billion passed through Binance Nigeria from unidentified sources in one year.

He also said the CBN is collaborating with different agencies, including the EFCC, the police, and the office of the National Security Adviser to checkmate illicit financial flows in the country.

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