The Economic and Financial Crimes Commission (EFCC) has obtained a court docket 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 software by the fee in go well with quantity FHC/LAG/MISC/1392/2026.
The EFCC additionally requested the court docket to place six Bank Verification Numbers (BVNs) on a watchlist pending the conclusion of investigations and attainable prosecution.
In a press release on Thursday by the EFCC spokesperson Dele Oyewale, the fee stated 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 assist of the applying, 12 suspicious transactions occurred between 4:52 p.m. and eight p.m. that day. The financial institution’s preliminary evaluation put its monetary publicity at N1.065 billion.
Gbolahan Dada, an EFCC investigator connected to the Bank Fraud Section, stated preliminary findings traced the funds to beneficiary accounts bearing the identify Yili Fu Liang Trading Co. Ltd and linked to a set 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 stated the funds wanted to be preserved whereas investigations continued and attainable prosecution was thought-about.
The investigator additionally said that checks on the BVN portal and account-opening paperwork allegedly linked the six BVNs listed within the software to the corporate.
He alleged that the people behind the corporate had been Nigerians working underneath the umbrella of a Chinese firm and stated they wanted to be questioned as a part of the investigation.
The EFCC informed the court docket that the account freeze and BVN watchlist had been vital to forestall the funds from being dissipated whereas investigations into alleged stealing and cash laundering continued.
The software was introduced underneath Section 44(2)(okay) of the Nigerian structure, sections 26 and 28 of the EFCC Act, and the court docket’s inherent jurisdiction.
After listening to submissions from the fee’s lawyer, Z.B. Atiku, Justice Bogoro granted the request.
The court docket adjourned the matter till 19 January 2027 for a report on the investigation.
The allegations haven’t been established in court docket.
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