In a significant development, Olusanya Olumide Adeniran, the CEO of EazzyTranzact, has refuted serious allegations from the Economic and Financial Crimes Commission (EFCC) concerning his alleged role in a ₦50 billion forex scam, and The source reports that this case has drawn considerable attention as it unfolds in the Federal High Court in Abuja.
EFCC Initiates Legal Action
The EFCC has initiated legal action, seeking a forfeiture order for properties located in Lekki and Victoria Island, Lagos, which they claim were acquired through illicit forex trading activities. Adeniran's legal representatives have countered these allegations, asserting that the issue at hand is a civil contract dispute rather than a criminal matter.
Upcoming Court Proceedings
As the legal battle progresses, the court proceedings are set to continue, with the next hearing scheduled for October 15, 2025. This case highlights the ongoing scrutiny of financial practices in Nigeria and raises questions about the regulatory environment surrounding forex trading.
As OSL Group solidifies its position in the Southeast Asian market through the acquisition of Koinsayang, the cryptocurrency landscape remains dynamic, with recent developments such as UK Financial LTD's announcement of upcoming token listings on the CATEX Exchange. This highlights the ongoing activity among trading firms and the evolving nature of the market. For more details on this significant announcement, check out the full article here.
