CBN freezes eleven bank accounts, corporations, and individuals

Recently the Central Bank of Nigeria (CBN) has been tracking down suspicious bank transactions of businesses and individuals and has frozen 11 accounts so far.

CBN announced on Wednesday that it got an interim order from the Federal High Court, Abuja to freeze the suspicious bank accounts for 45 days while investigations go on. The court order followed an exparte motion directing the First City Monument Bank (FCMB) Limited to immediately freeze all transactions on the identified suspicious accounts and all other bank accounts on the defendants for a period of 180 days until the investigation has been concluded.

“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 court order read.

According to the statement which contained the disclosure in the documents posted by Apex bank on its website, the plaintiff (CBN) listed the names of defendants/respondents including Albert Austin Ugochukwu, Belfour Energy & Allied Services, Belfour Oil & Gas Limited, Circle Flow Integrated Services, Kacynaus Reality Nigeria Limited, and Tasmara Integrated Services.

The document also stated that the interim order was issued by the court upon reading the Affidavit in support of the Application – Affidavit of Urgency, Verifying Affidavit, and Affidavit of Non-Multiplicity of actions all attached to an exhibit.

The order which was issued by the presiding Judge, A.R. Mohammed, is renewable on expiration on reasonable ground, the document also states. All affected parties or persons are entitled to approach the court to have the order reviewed, set aside, or discharged for good reasons.

More recently, the Presidency confirmed the arrest and detention of several bureaus de change operators that are being suspected of money laundering and financing terrorist groups.