DSS Seeks Court Orders Over Alleged ₦1.1bn Forex Fraud Involving Access Bank, FCMB
By Erewunmi Peace
The Department of State Services (DSS) has approached the Federal High Court seeking orders in connection with an ongoing investigation into an alleged ₦1.1 billion foreign exchange fraud scheme involving some financial institutions, including Access Bank and FCMB.
According to reports, the DSS is requesting court approval to take further steps in its investigation, which includes tracing and monitoring suspected financial transactions linked to the alleged fraud.
The application is part of efforts by the security agency to unravel what it described as suspicious forex-related dealings running into billions of naira.
Court filings reportedly seek authorization for investigative actions such as account monitoring and other financial intelligence measures to establish the flow of funds under investigation.
The case is still at the preliminary stage, and no final judicial determination has been made regarding the allegations.
The DSS is said to be working in collaboration with relevant financial intelligence units to ensure a thorough investigation into the matter.
Further updates are expected as the court considers the DSS application and the investigation progresses.
