Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


EFCC says freezing of accounts under investigation not vindictive

13 June 2016, 21:42

Abuja - The Economic and Financial Crimes Commission (EFCC) has said that the freezing of accounts of those being investigated for financial crimes is lawful and not vindictive as is being insinuated.

Mr Wilson Uwujaren, Head of Media and Publicity of the commission, explained this in a statement on Monday in Abuja.

It explained that the action was a lawful mandatory investigative step.

“Indeed, Section 34 (1) of the EFCC Act 2004 empowers the commission to freeze any account suspected of being used for financial crimes,’’ the statement quoted Uwujaren as saying.

It said the section empowers the commission’s chairman or any authorised officer to order the freezing of such account if he was satisfied that the money in the account was made fraudulently.

Also read: Suspect dies in EFCC custody

It added that the commission by the Act has the power to issue or instruct a Bank examiner or such other appropriate authority to freeze such account.

It further said that 2012 amended Money Laundering Prohibition Act also empowers the EFCC chairman or his representatives to place a stop order on accounts or transactions suspected to be involved in crime.

The statement added that the Act was to ensure that the commission safeguards suspected proceeds of crime pending the completion of its investigation.

“It is without prejudice to the social standing of the holder of such accounts or whether they are individual, corporate or government accounts.

“Freezing orders are incidental to investigation and doing otherwise will jeopardise the prospects of recovering stolen assets,’’ the statement said.


For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.


Tags efcc national

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...