A federal high court in Abuja has issued an interim order for the Economic and Financial Crimes Commission (EFCC) to freeze four cryptocurrency wallets valued at $37 million due to money laundering allegations.
Emeka Nwite, the presiding judge, granted the order while ruling on an ex-parte motion filed by the EFCC.
On Tuesday August 8, the ruling was delivered according to the certified true copy .
Based on the document, the commission sought to freeze a total of 37,061,867,869.3 cryptocurrency.
The hearing featured a dialogue between the judge and O.S. Ujam, EFCC’s lawyer, on the application — without any opposing arguments or objections being presented.
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The EFCC said the assets are proceeds of money laundering and terrorism financing.
The agency, however, did not reveal the identities of the wallet owners in its application.
On April 19, a federal high court in Abuja had granted an order to EFCC to freeze at least 1,146 bank accounts belonging to individuals and companies over “unauthorised foreign exchange” transactions.
The commission was also investigating the individuals and companies for “money laundering and terrorism financing”.
