CBN Secures Court Approval To Momentarily Freeze #ENDSARS Promoters’ Bank Account

07 Nov CBN Secures Court Approval To Momentarily Freeze #ENDSARS Promoters’ Bank Account

Central Bank of Nigeria (CBN) has received the approval of a federal high court to temporarily block bank accounts operated by promoters of the #ENDSARS protest until January next year when the court could decide whether to lift the freeze order or extend it.

At least 20 accounts operated by individuals and companies have been affected by the restriction order which followed a motion ex parte filed by the apex bank at the court presided over by Justice A.R Mohammed.

The suit listed the 20 defendants as: Bolatito Oduala, Chima Ibebunjoh, Mary Kpengwa, Gatefield Nigeria Limited, Saadat Bibi, Bassey Israel, Wisdom Obi, Nicholas Osazele, Ebere Idibie, Akintomide Yusuf, Uhuo Promise, Mosopefoluwa Odeseye and Adegoke Emmanuel.

Others include Umoh Ekanem, Babatunde Segun, Mulu Teghenan, Mary Oshifowora, Winifred Jacob, Victor Solomon, and Idunu Williams.

The accounts are domiciled in Access Bank, Guaranty Trust Bank, Fidelity Bank, First Bank, United Bank for Africa, and Zenith Bank.

The order said: “A mandatory order is made empowering the plaintiff/applicant to direct the head office of Access Bank of Nigeria Plc, Fidelity Bank Plc., First Bank of Nigeria Plc., Guaranty Trust Bank Plc., United Bank for Africa Plc. and Zenith Bank Plc. to freeze forthwith all transactions on the 20 bank accounts listed for a period of 90 days pending the outcome of investigation and inquiry currently being conducted by the Central Bank of Nigeria.

“It is, however, directed that the 90-day freezing order, when it lapses, may be renewed upon good cause shown by the applicant.

“It is also directed that any person, whether artificial or natural, that is affected by this order may apply to the court to have his grievance or complaint heard by the court. The suit is adjourned till February 4, 2021.”