Justice Yelim Bogoro of the Federal High Court in Lagos has ordered the freezing of a checking account linked to the alleged theft of N1.065 billion from Renmoney Microfinance Bank’s vault.
Justice Bogoro granted the order after contemplating an ex parte software by the Economic and Financial Crimes Commission (EFCC), which sought to protect the funds pending the conclusion of investigations and potential prosecution of these implicated within the alleged fraud.
After listening to the EFCC’s lawyer, Zeenat Atiku, who sought the preservation of the funds, the decide additionally ordered the watchlisting of six Bank Verification Numbers (BVNs) allegedly linked to the people behind Yili Fu Liang Trading Company Limited, whose account investigators recognized as a beneficiary of the disputed transfers.
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The case, marked FHC/LAG/MISC/1392/2026, arose from a petition by Renmoney Microfinance Bank, which alleged that its banking software was exploited to execute 12 unauthorised digital transfers totalling N1,065,500,000.
In an affidavit filed in help of the appliance, the anti-graft company claimed that the alleged fraud occurred on September 18, 2026, between roughly 4.52pm and 8pm.
The financial institution, via its legal professionals, petitioned the EFCC on September 21, alleging conspiracy and theft by Yili Fu Liang Trading Company Limited and different individuals suspected of involvement within the transactions.
An EFCC investigator, Gbolahan Olabayo Dada, connected to its Bank Fraud Section, mentioned preliminary investigations traced the disputed funds to a digital account maintained with First City Monument Bank (FCMB).
The account, numbered 6700756695 and bearing the title Yili Fu Liang Trading Company Limited, was allegedly linked to a group account operated by KORA Payment Network, numbered 2007242714.
Dada said that preliminary investigations confirmed that the gathering account obtained N1.065 billion in 9 tranches on the day of the alleged fraud.
He additional alleged that the suspected beneficiaries had no corresponding balances of their accounts earlier than they obtained the disputed funds, prompting the EFCC to hunt an order to protect the cash and forestall its dissipation.
The investigator mentioned the fee started investigating after receiving the petition and wrote to a number of banks for info. Its operatives had obtained and analysed the responses.
He expressed concern that the incident may not be remoted, alleging it could possibly be a part of a coordinated scheme by which people could have acted individually or collectively to unlawfully receive, switch, obtain, conceal, or convert the financial institution’s funds.
The EFCC additionally requested the courtroom to watchlist six BVNs, alleging that their holders have been people behind Yili Fu Liang Trading Company Limited.
According to the investigator, preliminary checks on the BVN portal and account-opening paperwork indicated that the people related to the corporate have been Nigerian nationals allegedly working underneath the quilt of a Chinese firm.
The C to okommission mentioned it wanted to research the people’ identities and actions additional and query them.
In the ex parte software, the EFCC relied on Section 44(2)(okay) of the 1999 Constitution, as amended, Sections 26 and 28 of the EFCC Act, 2004, and the courtroom’s inherent jurisdiction.
It urged the courtroom to authorise freezing the account and watchlisting the BVNs pending the conclusion of investigations and potential prosecution.
Justice Bogoro granted the reliefs sought and adjourned the matter to January 19, 2027, for a report on the investigation.
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