The Economic and Financial Crimes Commission (EFCC) has taken decisive action against illegal forex activities by freezing 300 accounts engaged in trading on a peer-to-peer platform. EFCC Chairman, Ola Olukoyede, disclosed that these accounts were suspended on Monday under the authority of a court order.
Addressing the media in Abuja on Tuesday, Olukoyede emphasized that these accounts had facilitated the transfer of over $15 billion within the past year alone, operating outside the purview of financial regulations. The EFCC’s intervention aims to safeguard the integrity of the foreign exchange market and bolster the stability of the economy.
