The Economic and Financial Crimes Commission has secured a court order to freeze an account belonging to Yili Fu Liang Trading Co. Ltd over allegations of conspiracy and theft.
The anti-graft agency, in a statement on Thursday, said the account was allegedly linked to the transfer of N1,065,500,000 from Renmoney Microfinance Bank following a reported electronic banking incident.
According to the EFCC, Justice Yelim Bogoro of the Lagos Division of the Federal High Court granted the order on Friday, October 16, 2026, after the EFCC filed an ex parte application in a suit marked FHC/LAG/MISC/1392/2026.
“The commission, through its prosecuting counsel, Z.B. Atiku, also sought an order to place six Bank Verification Numbers (BVNs) on a watchlist pending the conclusion of investigations or possible prosecution,” the EFCC stated.
It said the application was brought under Section 44(2)(k) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 26 and 28 of the EFCC Act, and the court’s inherent jurisdiction.
The anti-graft agency specifically sought an order authorising it to direct the manager of the account listed in Schedule A of the application to freeze the account, pending the conclusion of investigations or possible prosecution.
“The account, bearing the name Yili Fu Liang, is reportedly linked to a Kora Payment Network collection account number domiciled with a new generation bank as a virtual account.
“The commission noted that it also sought an order to watchlist six BVN numbers pending the conclusion of investigations or possible prosecution,” it added.
The EFCC cited an affidavit deposed to by Gbolahan Olabayo Dada, the commission’s investigating officer, who was assigned to investigate a petition submitted by Blackwood Law on behalf of Renmoney Microfinance Bank Limited against Yili Fu Liang Trading Co. Ltd over allegations of theft.
“The affidavit stated that the commission received the petition on September 21, 2026, following an alleged incident on September 18, 2026, involving unauthorised electronic transfers of N1,065,500,000 through the bank’s application environment.
“The petitioner alleged that the suspicious transactions occurred between approximately 4:52 p.m. and 8:00 p.m., with 12 transactions identified during the period and the total financial exposure estimated at N1.065 billion,” the statement added.
Mr Dada said preliminary investigations suggested that the account holders did not have corresponding funds in their accounts before the alleged incident, making it necessary to secure the funds pending further investigation and possible prosecution.
Justice Bogoro granted the reliefs sought by the commission after hearing the agency’s counsel’s submissions and subsequently adjourned the matter until January 19, 2027, for a report on the investigation.
