EFCC freezes 300 forex accounts

The Economic and Financial Crimes Commission (EFCC) has frozen 300 unlawful FOREX accounts that traded on a peer-to-peer platform.

The EFCC Chairman, Ola Olukoyede, disclosed that the accounts were suspended on Monday due to a court order.

Speaking in Abuja on Tuesday, Olukoyede said that over $15 billion was transferred through one of the FX platforms in the last year, in violation of banking norms.

He stated that the Commission‘s move was done to secure the foreign exchange market and preserve the economy.

Details later…

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