The Economic and Financial Crimes Commission (EFCC) has secured a Federal High Court order to freeze an account belonging to Yili Fu Liang Trading Co. Ltd over an alleged ₦1.065 billion fraud involving Renmoney Microfinance Bank.
EFCC’s Head of Media and Publicity, Dele Oyewole disclosed on Thursday, that Justice Yelim Bogoro granted the order on October 16, 2026, following an ex parte application by the EFCC, which also sought to place six Bank Verification Numbers (BVNs) on a watchlist pending the conclusion of investigations and possible prosecution.
The EFCC said its investigation followed a petition alleging unauthorised electronic transfers from Renmoney Microfinance Bank’s application system on September 18, 2026. The bank reportedly identified 12 suspicious transactions between 4:52 p.m. and 8 p.m., with a total exposure of ₦1.065 billion.
According to an affidavit by EFCC investigator Gbolahan Olabayo Dada, preliminary findings traced nine tranches of inflows totalling the disputed amount to a collection account linked to Kora Payment Network and bearing the name Yili Fu Liang Trading Co. Ltd.
The investigator further alleged that preliminary checks linked the six BVNs to the company and that the individuals behind it needed to be questioned as investigations into alleged stealing and money laundering continued.
The Commission told the court that freezing the account was necessary to preserve the funds and prevent their dissipation while investigations continued.
Justice Bogoro granted the reliefs sought and adjourned the case until January 19, 2027, for a report on the investigation.
