CBN freezes 11 companies, individuals bank accounts over suspicious transactions

The Apex Bank in Nigeria, 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.

This directive follows an exparte motion, filed on March 16 and dated March 22, seeking the mandatory judgement of the court to compel 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.

On a document posted on the website of CBN on Wednesday, April 7, 2021, this disclosure is contained.

In an official statement from the CBN who is the plaintiff, it was gathered that the 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.

In the court’s judgement, it states that the mandatory order was given 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 further acclaimed that the court order given by the Presiding Judge, A.R. Mohammed, is renewable on expiration but only on good reasons shown and the court can still be approached by anyone affected by this order for further redress, it said.