A Comprehensive Legal Analysis of The EFCC’s Authority To Freeze Bank Accounts Under Nigerian Law
The EFCC possesses significant statutory powers to preserve bank accounts connected with suspected economic and financial crimes, but those powers are subject to defined procedural limits. This article examines section 34 of the EFCC Act, the 72-hour stop-order mechanism under the Money Laundering (Prevention and Prohibition) Act 2022, and the evolving appellate decisions on post-no-debit restrictions. It argues that the legality of any account freeze depends on its statutory basis, duration and compliance with judicial safeguards.
