300 Accounts Frozen Over Suspicious FX Flows -EFCC
The Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, said on Tuesday, that the Commission has discovered another scheme worse than the crypto trading platform, Binance and its system.
Olukoyede said EFCC has frozen about 300 accounts to ensure the safety of the foreign exchange market.
The scheme, popularly called the “P to P” peer-to-peer financial trading scheme has operated outside the official banking and financial corridors and there was a looming disaster that could further crash the Naira value that has continued to gain.
“There are people in this country doing worse than Binance,” he said.
He added that over $15 billion passed through one of the platforms in the last year, outside the financial regulations.
