CBN freezes 11 bank accounts of companies, individual

0
The CBN has been clamping down on businesses and individuals with suspicious bank transactions.

 
diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele  , Increasing food prices might erase chances of CBN cutting interest rate   , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million  , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

 

The Central Bank of Nigeria (CBN) on Wednesday announced that it got an interim order from the Federal High Court, Abuja division, to freeze 11 bank accounts of 5 companies and an individual for 45 days to enable it to conduct investigations into suspicious activities.

The order follows an exparte motion, dated March 12 and filed on March 16, seeking the mandatory order of the court to direct First City Monument Bank (FCMB) Limited, to freeze all transactions on the listed accounts and all other bank accounts of the defendants for 180 days pending the outcome of investigation and inquiry currently being conducted by the CBN.

 

This disclosure is contained in documents posted by the apex bank on its website on Wednesday, April 7, 2021, and seen by Nairametrics.

According to the statement from the CBN who is the plaintiff, the listed names of the defendants/respondents include Albert Austin Ugochukwu with 2 bank accounts, Belfour Energy & Allied Services, Belfour Oil and Gas Limited with 3 bank accounts, Circle Flow Integrated Services, Kacynaus Reality Nigeria Limited with 3 bank accounts and Tasmara Integrated Services.

The court document also states that the order was given by the court upon reading the Affidavit in support of the Application, Affidavit of Urgency, Verifying Affidavit and Affidavit of Non-Multiplicity of action all deposed by an Assistant Manager of the CBN, Central Business District, Oluwatoyosi Suwebat Oladipo, together with an attached exhibit.

The order from the Federal High Court partly reads, “An interim Order is made empowering the applicant to direct the Head Office of First City Monument Bank Ltd to freeze forthwith all transactions on the bank accounts listed on the motion paper for a period of 45 days only pending the outcome of investigation currently being conducted by the Central Bank of Nigeria.’’

The document also states that the order which was given by the Presiding Judge, A.R. Mohammed, was renewable on expiration but only on good reasons shown and any person affected by this order was entitled to approach the court to seek to set aside, discharge or have the order reviewed for good reasons, it said.

  • The CBN has been clamping down on businesses and individuals with suspicious bank transactions especially for money laundering and illegal forex transactions in recent times.
  • Just recently, the Presidency, while confirming the arrest and detention of some bureau de change operators, said that they were being investigated for money laundering and facilitating money to terrorists.
FIRST BANK ADVERT
Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More