EFCC blocks more than 300 accounts over illicit FX flows, discovers new crypto trading platform

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, said on Tuesday the commission has frozen more than 300 accounts over suspicious foreign exchange flows.

Olukoyede, who disclosed this to journalists in Abuja, said the EFCC has discovered another worse scheme other than crypto trading platform Binance and its system.

He said the scheme popularly called the “P to P” peer- peer financial trading scheme has operated outside the official banking and financial corridors.

The EFCC warned that the scheme could further crashed the value of Naira value if unchecked.

READ ALSO: Cardoso says $26bn from unknown sources passed through Binance Nigeria in one year

The Federal Government is currently prosecuting Binance Holdings Limited and its two officials, Tigran Gambaryan and Nadeem Anjarwalla, for alleged tax evasion and other crimes.

Security agents in Kenya last week arrested Anjarwalla, who fled Nigeria some weeks ago.

Olukoyede said: “There are people in this country doing worse than Binance. Over $15bn passed through one of the platforms in the last one year outside the financial regulations.”

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now