More than 300 accounts connected to illegal foreign exchange (FX) transactions have been frozen by the Economic and Financial Crimes Commission (EFCC).

The EFCC’s chairman, Ola Olukoyede, stated in interactive session with media executives in Abuja on Tuesday that the organisation had obtained a court order to freeze the accounts.

“We got an order to freeze those accounts imagine what would have happened if we didn’t seize those accounts,” he said.

The anti-graft chairman said that one of the illicit accounts had up to N50 billion.

The scheme popularly called the “P to P” peer- peer financial trading scheme has operated outside the official banking and financial corridors and there was a looming disaster that could further crashed the Naira value that has continued to gain.

“There are people in this country doing worse than Binance,” he said.

He added that over $15bn passed through one of the platforms in the last one year, outside the financial regulations.

This is a developing story…

https://www.withinnigeria.com/news/2024/04/23/just-in-naira-efcc-freezes-300-illicit-accounts/

BREAKING: Suspected Pirates Kill 5 Boat Passengers In Rivers

https://www.ekohotblog.com/2022/09/03/breaking-suspected-pirates-kill-5-boat-passengers-in-rivers/

2023: Labour Party Presidential Candidate Explains Meaning Of 'OBIDENT'

https://www.ekohotblog.com/2022/09/03/2023-labour-party-presidential-candidate-explains-meaning-of-obident/

Tinubu Reveals Meeting Details With Obasanjo In Abeokuta

https://www.ekohotblog.com/2022/08/18/tinubu-reveals-meeting-details-with-obasanjo-in-abeokuta/

EFCC Arrest 29 Suspected Yahoo Boys In Ibadan

https://www.ekohotblog.com/2022/08/10/efcc-arrest-29-suspected-yahoo-boys-in-ibadan/

After 169 Days Strike, ASUU Reveals When Last They Got Paid[color=#000099][/color]

https://www.ekohotblog.com/2022/08/02/after-169-days-strike-ASUU-reveals-when-last-they-got-paid/

Drama As Lagos Police Refund N50,000 Stolen From Motorists In Agege

https://www.ekohotblog.com/2022/07/26/lagos-police-refund-n50000-stolen-from-motorists-in-agege/

Organ Harvesting: Court Grants Ekweremadu's Wife Bail

https://www.ekohotblog.com/2022/07/26/organ-harvesting-court-grants-ekweremadus-wife-bail/

Sanwo-Olu Approves Four Work-Free Days For Lagos Workers To Get PVCs

https://www.ekohotblog.com/2022/07/26/sanwo-olu-approves-four-work-free-days-for-lagos-workers-to-get-pvcs/

LASG Reclaims Encroached Land In Ikorodu GRA To Original Allottees

https://www.ekohotblog.com/2022/07/22/lasg-reclaims-encroached-land-in-ikorodu-gra-to-original-allottees/

BREAKING: Yemi Osinbajo Undergoes Leg Surgery

https://www.ekohotblog.com/2022/07/16/breaking-yemi-osinbajo-undergoes-leg-surgery/

In a bid to improve your experience with Shoprite, we solicit your feedback on the quality of their online services.

https://forms.gle/YgVJ2sL57MMuh3Vo7

JUST IN: Drama As POS Operators Accuses Police DPO Of Extortion In Lagos

https://www.ekohotblog.com/2022/07/13/drama-as-pos-operators-accuses-police-dpo-of-extortion-in-lagos/

JUST IN: Police Burst Kidnap Syndicate, Kill One

https://www.ekohotblog.com/2022/07/10/just-in-police-burst-kidnap-syndicate-kill-one/

Tinubu Confirms Ex-Governor As Vice Presidential Candidate (PHOTO)

https://www.ekohotblog.com/2022/07/10/breaking-tinubu-confirms-ex-governor-as-vice-presidential-candidatephoto/

JUST IN: Tension As Two Petrol Tankers Explodes In Anambra

https://www.ekohotblog.com/2022/07/04/just-in-tension-as-two-petrol-tankers-explodes-in-anambra/

BREAKING: Firm Announces Annual Tonnes Of Plastic Waste Generated In Lagos

https://www.ekohotblog.com/2022/07/04/breaking-firm-announces-annual-tonnes-of-plastic-waste-generated-in-lagos/

Hike In BRT: Sanwo-Olu Has Turned Blind Eye To Lagosians - PDP Laments

https://www.ekohotblog.com/2022/07/02/hike-in-brt-sanwo-olu-has-turned-blind-eye-to-lagosians-pdp-laments/

APC, Haven Of Vendetta And Injustice - Senatorial Aspirants Quits Party

https://www.ekohotblog.com/2022/07/02/apc-haven-of-vendetta-and-injustice-senatorial-aspirants-quits-party/

BREAKING: PSG Set To Offload Ex- Barcelona Legend (PHOTO)

https://www.ekohotblog.com/2022/07/02/breaking-psg-set-to-offload-ex-barcelona-legend-photo/

JUST IN: Lagos Introduces ‘QUEENS CLUB’ Initiative To Empower Girls (PHOTO)

https://www.ekohotblog.com/2022/07/02/just-in-lagos-introduces-queens-club-initiative-to-empower-girls-photo/

Week 52 Pool Result for Sat 2 July 2022 – UK 2021/2022 – Pool Agent

https://www.ekohotblog.com/2022/07/02/week-52-pool-result-for-sat-2-july-2022-uk-2021-2022-pool-agent/

BREAKING: Buhari Re-Appoints Patience Oniha As DG DMO

https://www.ekohotblog.com/2022/06/30/breaking-buhari-re-appoints-patience-oniha-as-dg-dmo/

Water Scarcity: Governor Sanwo-olu Speaks On Water Project (PICTURES)

https://www.ekohotblog.com/2022/07/01/water-scarcity-governor-sanwo-olu-speaks-on-water-project-pictures/

JUST IN: Fintiri Picks Female Vice Chancellor As Running Mate

https://www.ekohotblog.com/2022/06/30/just-in-fintiri-picks-female-vice-chancellor-as-running-mate/

JUST IN: Again, Another 3 Year Old Boy Declared Missing In Lagos Community

https://www.ekohotblog.com/2022/06/30/just-in-again-another-3-year-old-boy-declared-missing-in-lagos-community/

Lagos Unveils New Policy Guidelines On Abortion

https://www.ekohotblog.com/2022/06/29/lagos-unveils-new-policy-guidelines-on-abortion/

BREAKING: Ameerah Sentenced To 12 Months Psychiatric Care Over False Kidnap

https://www.ekohotblog.com/2022/06/29/breaking-ameerah-sentenced-to-12-months-psychiatric-care-over-false-kidnap/

Drama As PDP Fayose Ignores Atiku, Drums Support For Southern Presidency

https://www.ekohotblog.com/2022/06/29/drama-as-pdp-fayose-ignores-atiku-drums-support-for-southern-presidency/