By Ephraim Emmanuel
Nigeria’s anti-corruption agencies have the constitutional authority to investigate and temporarily freeze bank accounts linked to fraud and money laundering, but any restriction lasting beyond 72 hours without a court order is illegal, a constitutional lawyer and professor of law, Richard Wokocha, has said.
Speaking during an interview with Exceed FM Port Harcourt, Wokocha explained that anti-graft bodies—including the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU)—are legally empowered to issue Post-No-Debit (PND) notices or freeze suspicious private, state, or federal government accounts.
He cited Section 7(6) of the Money Laundering (Prevention and Prohibition) Act as the primary legal framework guiding such temporary account restrictions.
“The anti-graft agencies can place restrictions unilaterally, but only for a period of not more than three days as stipulated by law,” Wokocha stated. “Thereafter, it becomes illegal to continue with the restriction if they fail to obtain a Federal High Court order within those 72 hours.”
According to the don, Section 7(8) of the Money Laundering Act and relevant provisions of the EFCC Act explicitly require investigators to secure an interim court injunction to legally extend any freeze beyond the initial three-day window.
Addressing ongoing public debate regarding the independence of anti-corruption agencies and alleged interference from the Presidency, Wokocha clarified that these agencies exercise executive powers derived from the President under Section 153 of the 1999 Constitution (as amended).
“Yes, they are independent in their operations, but because they exercise presidential authority, the President remains legally positioned to call their actions into question,” Wokocha added.
