Justice Emeka Nwite granted the interim order after ruling on the ex parte motion moved by the lawyer representing the anti-corruption body, Ekele Iheanacho.
A Federal High Court in Abuja has ordered Binance Holdings Limited to provide information on all persons trading on the platform from Nigeria to the Economic and Financial Crimes Commission (EFCC).
According to the News Agency of Nigeria, Justice Emeka Nwite granted the interim order after ruling on the ex parte motion moved by the lawyer representing the anti-corruption body, Ekele Iheanacho.
“The applicant’s application dated and filed 29th February, 2024, is hereby granted as prayed. That an order of this honourable court is hereby made directing the operators of Binance to provide the commission with comprehensive data/information relating to all persons from Nigeria trading on its platform,” the judge ordered.
The interim order enabled the anti-graft agency to unravel the alleged money laundering and terrorism financing on Binance, a cryptocurrency exchange platform.
The ex parte motion marked FHC/ABJ/CS/259/2024 was brought pursuant to Sections 6(b), (h), (I), 7(1), (a)(2), and 38 of the Economic and Financial Crimes Establishment Act, 2004 and Section 15 of the Money Laundering (Prevention and Prohibition) Act, 2022 (as amended) and the inherent powers of the court.
In the affidavit in support of the motion deposed to by Hamma Bello, an operative of the EFCC, he said he was attached to the Special Investigation Team (SIT) of the commission domiciled in the Office of the National Security Adviser (ONSA).
Mr Bello noted that following the inauguration of the Technical Committee on Currency Stability and Forex Manipulation by the ONSA, the SIT “received an intelligence stating the nefarious activities (money laundering and terrorism financing) on Binance,” a cryptocurrency exchange platform.
