Just In : EFCC freezes 300 illegal forex accounts

Just In : EFCC freezes 300 illegal forex accounts

The Economic and Financial Crimes Commission has frozen 300 illegal forex accounts trading on a peer-to-peer platform.

The EFCC Chairman, Ola Olukoyede, revealed that the accounts were suspended on Monday following a court order.

Speaking in Abuja on Tuesday, Olukoyede explained that over $15bn passed through one of the forex platforms in the last one year, outside the financial regulations.

He said the EFCC action was taken to ensure the safety of the foreign exchange market and protect the economy

Details later…