Government & Politics

Why We Freeze Bank Accounts of Those Under Investigation – EFCC


The Economic and Financial Crimes Commission, EFCC, has released a statement explaining why it freezes the account of those that are currently under investigation. In the statement which was shared on their Facebook wall, the antigraft agency stated that freezing of accounts of anyone under investigation is a mandatory step backed by law. Read their statement below:

“In recent times, a lot of interest has been generated by the action of the Commission in freezing the accounts of suspects that were investigated or are currently being investigated. Some commentators have tended to ascribe vindictive motives to this action. In order to prevent misinformation, it is imperative to explain the reason behind the Commission’s actions in this regard. Freezing of accounts suspected of being used for commission of financial crimes is a mandatory investigative step backed by law”.

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