General
FX Trades: Court Grants EFCC Order to Freeze 1,146 Bank Accounts
By Adedapo Adesanya
A Federal High Court in Abuja has granted an interim order sought by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts belonging to individuals and companies over allegations bordering on unauthorised dealing in foreign exchange (FX).
The account restrictions were also related to other offences being investigated by the EFCC bordering on money laundering and terrorism financing.
Justice Emeka Nwite, in a ruling on the ex-parte motion moved by counsel for the anti-graft agency, Mr Ekele Iheanacho, also granted the commission’s application to conclude the investigation within 90 days.
Justice Nwite said: “It is hereby ordered as follows: That the applicant’s application is hereby granted as prayed.
“That an order of this honourable court is hereby made freezing the bank accounts stated in the schedule below which accounts are owned by various individuals who are currently being investigated in a case involving the offences of unauthorised dealing in foreign exchange, money laundering and terrorism financing to the extent that the investigation will be for a period of 90 (ninety) days.”
This was contained in court documents released on Monday, April 29 which showed that the ruling was granted on Wednesday, April 24.
The EFCC, in the motion ex-parte marked: FHC/ABJ/CS/543/2024 dated and filed last Wednesday (April 24) by Mr Iheanacho, was heard by the judge the same day in the interest of national interest.
The motion was brought pursuant to Section 44(2) and (K) of the 1999 Constitution; Section 34 of the EFCC Establishment Act 2004; Section 7(8) of the Money Laundering Prevention and Prohibition Act, 2022 and under the inherent jurisdiction of the court.
The agency had sought the order freezing the bank accounts stated in the schedule attached to the motion pending the conclusion of the investigation.
Giving three grounds upon which the reliefs were sought, it said: “The bank accounts in respect of which the reliefs are sought are subject matters of investigation by the EFCC in relation to money laundering and terrorism financing.
“That preliminary investigation conducted thus far reveals that the bank accounts are linked to persons who take advantage of the virtual cryptocurrency exchange platforms to illegally manipulate the value of Naira and launder proceeds of unlawful activities.
“That there is a need to preserve the funds in the identified bank accounts pending the conclusion of the investigation and possible prosecution.”
Justice Nwite consequently adjourned the matter until July 23 for mention.
Some of the account names mentioned in the attached schedule are Akitoye Adeyemi Ayomide with GTBank account number; 0165110025; Clyp Trading Ltd, Titan Trust Bank account number: 0000331101; Clyp Consulting Ltd, Providous account number: 9401374554; and Toyetech Platforms Ltd, Titan Trust Bank account number: 0000134962.
They also include Winx International Platforms Ltd, Titan Trust Bank account number: 0000135055; Shutterscore Trading Platforms Ltd, Access Bank account number: 1532363954; Tradecillion Trading Ltd, Stanbic IBTC account number: 0045672922; and Nsofor Donald Nmamdi, GTBank account number: 0449088666.
They equally include Kora Payments Network Ltd-Operations, UBA account number: 1022242089; Renderstack Technologies Ltd, Zenith Bank account number: 1210355120; Korex Payments Ltd, Globus account number: 5000007837; and Awe Microfinance Bank Ltd, Providous account number: 5400760781; and Victor Samuel Asuquo, Opay Digital Services Ltd account number: 9020132068.
Others are Akingbade Sabit Juwon, ECONANK account number: 3442053006; Nsofor Donald Nmamdi, Union Bank account number: 0140460572; Asuquo Victor Samuel, First Bank account number: 3153199542; Oty Ugochukwu Stanley, FCMB account number: 4039304011; Oty & Sons Global Concepts, Fidelity Bank account number: 6060410145; and Pelumi Ayandoye, Wema Bank account number: 0234852277; and David George Ajala, Fidelity Bank account number: 5090680780, among others.
The same judge, Justice Nwite on March 18 ordered Binance Holdings Limited to provide EFCC with the comprehensive data or information of all persons from Nigeria trading on its platform.
The judge granted the interim order on Feb. 29 to enable the anti-graft agency to unravel the alleged money laundering and terrorism financing on Binance, a cryptocurrency exchange platform.
The commission had told the judge that its investigation team uncovered users who had been using the platform for price discovery, confirmation and market manipulation which had caused tremendous distortions in the market, resulting in the Naira losing its value against other currencies.
It said that the information afforded to the team by Binance showed that the total trading volume from Nigeria in 2023 alone stood at $21.6 billion.
General
Nigeria, Turkey to Fix Bilateral Relations for Better Visa Facilitation
By Adedapo Adesanya
The governments of Nigeria and Turkey have agreed to collaborate on enhancing bilateral relations, with a focus on visa facilitation, business mobility, and consular matters.
The agreement followed a meeting in Abuja between the Minister of Interior, Mr Olubunmi Tunji-Ojo, and the Turkish Ambassador to Nigeria, Mr Mehmet Poroy, during a courtesy visit.
Mr Tunji-Ojo highlighted the strong historical and cultural ties between the two countries and Nigeria’s commitment to a “smart, structured, and practical approach to international cooperation” that promotes people-to-people contact and legitimate business engagement.
“These ties provide a solid foundation for deeper collaboration,” he said.
Ambassador Poroy provided updates on improved visa facilitation for Nigerian businessmen traveling to Turkey, noting that “under the new arrangement, applications are processed locally, allowing verified businesspersons to benefit from faster processing timelines of about three to four days.”
He also raised concerns about Turkish businesspeople facing challenges when visiting Nigeria for trade fairs and investments, citing conflicting information about Nigerian visa arrangements. “We request written clarification to guide applicants accurately,” Poroy said.
A key proposal during the meeting was the inclusion of Turkey in Nigeria’s electronic visa (e-visa) system.
“The absence of a Nigerian visa office in Istanbul creates logistical challenges,” the Ambassador explained, adding that, “Including Turkey in the e-visa regime would significantly enhance business mobility for Turkish nationals.”
In response, Mr Tunji-Ojo assured that “denying visas to genuine Nigerian or Turkish businesspeople is not in the interest of either country.”
He emphasized the Ministry’s commitment to “transparency, dialogue, and continuous improvement in visa administration,” stressing Nigeria’s openness to legitimate investors and international business partners.
The discussion also addressed recognition of Nigerian marriage certificates by foreign missions. The Minister clarified that “all marriage certificates issued under Nigerian law are constitutionally valid and should not require additional verification.”
The Turkish Ambassador acknowledged the concern and committed to reviewing embassy procedures, as both parties agreed on the importance of continued engagement to strengthen bilateral cooperation.
General
US Delivers Military Supplies to Help Nigeria in Terrorism Fight
By Adedapo Adesanya
The United States has delivered military supplies to Nigerian security agencies to bolster operations in several parts of the country.
This was disclosed in a post via X on Tuesday by the United States Africa Command (AFRICOM).
“The US forces delivered critical military supplies to our Nigerian partners in Abuja. This delivery supports Nigeria’s ongoing operations and emphasizes our shared security partnership,” the post read.
The development shows cooperation between both nations after US President Donald Trump previously threatened to invade the country over the killing of Christians.
Last November, the federal government dispatched a delegation to Washington, the US capital, aimed at strengthening security partnerships between the two countries and opening new avenues for cooperation.
Leading the delegation then was the National Security Adviser, Mr Nuhu Ribadu, who met with senior officials across the US Congress, the White House Faith Office, the State Department, the National Security Council, and the Department of War.
During the meeting, the Nigerian delegation refuted allegations of genocide in Nigeria, emphasising that violent attacks affect families and communities across religious and ethnic lines.
It also rejected the wrongful framing of the situation, saying such a portrayal would only divide Nigerians and distort the realities on the ground.
According to the presidency at the time, both countries agreed to implement a non-binding cooperation framework and to establish a Joint Working Group to ensure a unified and coordinated approach to the agreed areas of cooperation.
The Nigerian delegation also reaffirmed the government’s commitment to strengthening civilian protection measures.
On Christmas Day 2025, the US has launched strikes against militants linked to the Islamic State group (IS) in north-western Nigeria, where militants have sought to establish a foothold.
According to the Nigerian government, the operation was a joint operation and had nothing to do with a particular religion, adding that the strikes had been planned for quite some time using intelligence provided by the country.
The Nigerian government has long been fighting an array of jihadist groups, including Boko Haram and IS-linked factions, but largely in the North-East. However, some new groups are gaining footholds and the new supplies could help the Nigerian military continue its fight against terrorism.
General
Waterway Accidents: FG Urges States to Ban Wooden Boats, Night Travel
By Modupe Gbadeyanka
State governments have been advised to ban the use of wooden boats for commercial water transportation to reduce waterway accidents.
This call was made by the federal government through the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.
The Minister argued that wooden boats are unstable and are highly prone to capsizing because they deteriorate quickly, unlike fibre and aluminium vessels which are more durable and safer.
His call followed incessant boat accidents in some parts of the country.
He charged the sub-nationals to adopt safer fibre-reinforced plastic and aluminium vessels to tackle the recurring and avoidable waterway accidents.
Mr Oyetola urged strict adherence to water safety regulations, warning against night travel, overloading, and the use of rickety vessels, while stressing the importance of wearing life jackets.
He disclosed that 35,000 life jackets were distributed to riverine states in 2025 and called for stronger collaboration with state governments to improve safety, noting that water transport remains critical to Nigeria’s blue economy.
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