• An Examination of the Powers of the Economic and Financial Crimes Commission to Restrict Bank Accounts for Investigations

    An Examination of the Powers of the Economic and Financial Crimes Commission to Restrict Bank Accounts for Investigations

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    Kelechi Obi, Partner, McPherson LLP, Lagos, Nigeria, in his article, An Examination of the Powers of the Economic and Financial Crimes Commission to Restrict Bank Accounts for Investigations, considers the provisions of the Nigerian Financial Intelligence Act 2018, the Money Laundering (Prohibition) Act 2011 (as amended), the Economic and Financial Crimes Commission Act 2004 in x-raying the powers of the EFCC to place restraint on the bank account of an individual under investigation. Kelechi reviews two crucial decisions of the Court of Appeal on the issue and concludes that there is a law that empowers the EFCC to restrict an individual’s account under investigation without an order of a court.

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