The judge held that the EFCC’s action amounted to trial by ambush.
Mrs Alison-Madueke sought an order setting aside the EFCC’s public notice issued, upon which it conducted the public sale by auction.
EFCC alleged that they engaged in this foreign exchange without going through the official foreign exchange market authorised by the Central Bank of Nigeria.
EFCC said the arrest followed credible intelligence on the suspects’ involvement in internet fraud.
NAFDAC said Mr Ifendu’s case would be handed over to the Economic and Financial Crimes Commission (EFCC).
EFCC has issued a public alert regarding the activities of 58 companies allegedly operating illegal Ponzi schemes under the guise of investment opportunities.
Justice Nwite adjourned the matter until March 7 for continuation of trial.
The convict earlier pleaded guilty to the charge and prayed the court for a plea bargain.
The commission clarified that it does not have a TikTok account and advised the public to disregard any one bearing the EFCC’s logo as fake.
Mr Olukoyede expressed surprise at how bandits and insurgents were able to sustain their activities in the country over the years.
