EFCC Freezes 300 Illegal Peer-to-Peer Forex Accounts – Olukoyede

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the anti-graft agency has uncovered and frozen over 300 accounts linked to a new scheme called Peer-to-Peer (P2P) which he described as fraudulent.

The EFCC chairman, who made this known during a chat with journalists in Abuja on Tuesday, said the platform is operating outside the official banking and financial corridors in the country.

He explained that the exercise was part of efforts to ensure the safety and stability of the foreign exchange market in the country, adding that the accounts were suspended following a court order.

“Over 300 accounts, in illicit forex trading that would have led to another crash in the next one week if we hadn’t moved in quickly,” Olukoyede said.

“We got an order to freeze those accounts. Somebody would come and ask us ‘What is your business with forex transactions? Some people are happy; they take pleasure in seeing this country boiling and I’ve come to realise that in the course of this work, some people want to see things go bad! From bad to worse.”

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According to a statement by the EFFC’s Head of Media & Publicity, Dele Oyewale, the chairman reaffirmed the commitment of the Commission to the economic growth and development of the country, promising that the agency would not relent in the exercise of its mandate.

He further revealed that the Commission has recovered more than N120 billion from fraudsters within six months and secured more than 1,600 convictions.

“In my six months, we have recovered close to N120 billion and over 1,600 convictions.”

Olukoyede said he is so passionate about the need for Nigeria to move forward and called on the citizens to be more dedicated to the country, insisting that patriotic Nigerians should offer more support to the EFCC because the Commission is crucial to the growth and development of Nigeria. “If you support the EFCC, you are working for the growth of Nigeria. We all have stakes in the well being of our nation”, he said.