An Abuja Federal High Court has issued an interim order authorizing the Economic and Financial Crimes Commission (EFCC) to freeze four cryptocurrency wallets containing approximately $37 million, suspected to be proceeds of money laundering and terrorism financing.
Presiding Judge Emeka Nwite granted the order on August 8, following an ex-parte motion filed by the EFCC. The frozen assets include a substantial amount of USDT (Tether) cryptocurrency, totaling $37 million, along with smaller amounts of USDT 443,512.37, USDT 967, and USDT 90.
The EFCC’s application, unopposed by any party, led to the court’s decision to freeze the wallets pending the conclusion of investigations into the owners’ alleged involvement in money laundering and terrorism financing. The agency has not disclosed the identities of the wallet owners.
This development follows a similar incident in April, where the EFCC obtained a court order to freeze over 1,146 bank accounts linked to individuals and companies suspected of unauthorized foreign exchange transactions, money laundering, and terrorism financing.
