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April 28, 2024

EFCC Initiates Investigation into Unauthorized Forex Activities in Nigeria, Blocking Over 1,000 Bank Accounts Linked to Suspicious Transactions on Binance

The Economic and Financial Crimes Commission (EFCC) of Nigeria has taken decisive action against suspected illegal forex activities, obtaining a court order to freeze 1,146 bank accounts allegedly involved in unauthorized foreign exchange dealings, money laundering, and potential terrorism financing. Speculation abounds as to the primary target of this wide-reaching investigation, with rumors pointing towards Binance Nigeria as the focus.