Court Freezes 🔨, Orders Forfeiture Of Accounts Without BVN ❗


A Federal High Court sitting in Abuja has ordered a temporary forfeiture of funds and freezing of accounts domiciled in 19 Banks not covered by the Biometric Verification Number (BVN).

Justice Nnamdi Dimgba gave the order over the weekend following the application by the Attorney General of the Federation and Minister of Justice, Abubakar Malami.

The judge also ordered the 19 banks to file an affidavit of disclosure before the court which should be deposed to by the Chief Compliance Officer of all accounts of those the orders are directed to.

He also made a freezing order stopping all outward payments, operations or transactions in respect of the accounts, pending the determination of the suit.

Justice Dimgba also gave an interim order appointing a bank examiner from the Central Bank of Nigeria to scrutinise the books of any bank that fails to comply with the order.

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