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The Economic and Financial Crimes Commission (EFCC) has obtained a courtroom order to freeze an account belonging to Yili Fu Liang Trading Co. Ltd over the alleged switch of N1.065 billion from Renmoney Microfinance Bank by unauthorised digital transactions.
The choose Yelim Bogoro of the Federal High Court in Lagos granted the order on 16 October following an ex parte utility by the fee in go well with quantity FHC/LAG/MISC/1392/2026.
The EFCC additionally requested the courtroom to place six Bank Verification Numbers (BVNs) on a watchlist pending the conclusion of investigations and doable prosecution.
In an announcement on Thursday by the EFCC spokesperson Dele Oyewale, the fee mentioned it started investigating the matter after receiving a petition from Blackwood Law, performing on behalf of Renmoney Microfinance Bank Limited, on 21 September.
The petition involved alleged unauthorised transfers by the financial institution’s digital banking platform on 18 September.
According to an affidavit filed in help of the appliance, 12 suspicious transactions occurred between 4:52 p.m. and eight p.m. that day. The financial institution’s preliminary evaluate put its monetary publicity at N1.065 billion.
Gbolahan Dada, an EFCC investigator hooked up to the Bank Fraud Section, mentioned preliminary findings traced the funds to beneficiary accounts bearing the identify Yili Fu Liang Trading Co. Ltd and linked to a group account operated by Kora Payment Network.
The assertion famous that the affidavit revealed that investigators recognized 9 inflows totalling N1,065,500,000 into the gathering account on 18 September.
Mr Dada additional alleged that the account holders didn’t have corresponding funds of their accounts earlier than the transactions occurred. He mentioned the funds wanted to be preserved whereas investigations continued and doable prosecution was thought of.
The investigator additionally acknowledged that checks on the BVN portal and account-opening paperwork allegedly linked the six BVNs listed within the utility to the corporate.
He alleged that the people behind the corporate had been Nigerians working underneath the umbrella of a Chinese firm and mentioned they wanted to be questioned as a part of the investigation.
The EFCC instructed the courtroom that the account freeze and BVN watchlist had been mandatory to forestall the funds from being dissipated whereas investigations into alleged stealing and cash laundering continued.
The utility was introduced underneath Section 44(2)(okay) of the Nigerian structure, sections 26 and 28 of the EFCC Act, and the courtroom’s inherent jurisdiction.
After listening to submissions from the fee’s lawyer, Z.B. Atiku, Justice Bogoro granted the request.
The courtroom adjourned the matter till 19 January 2027 for a report on the investigation.
The allegations haven’t been established in courtroom.
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