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CBN Freezes 194 Accounts of Companies, BDCs

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The Central Financial institution of Nigeria (CBN) has been granted permission by The Federal Excessive Court docket, Abuja, to freeze 194 financial institution accounts belonging to corporations, Bureaux de Change and others.

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Based on reviews paperwork on its web site present that the freezing would the CBN to conduct investigations into suspicious actions.

In one of many three paperwork on its web site, the apex mentioned it acquired an order to freeze 60 financial institution accounts of Bluebeam Capital Restricted domiciled in 13 completely different banks.

Bluebeam, because the respondent had eight accounts every in Entry Financial institution and Keystone Financial institution; seven every in First Financial institution and Ecobank; 5 every in UBA and GTBank; 4 every in Constancy Financial institution, FCMB and Sterling Financial institution; three accounts in Polaris Financial institution; two every in Wema Financial institution and Heritage Financial institution; and one in Providus Financial institution.

In one other doc, the CBN mentioned it acquired an order to freeze 84 accounts in 17 banks.

The third paperwork revealed that the court docket granted CBN permission to freeze 50 accounts domiciled in several banks.

The motions exparte which have been signed on completely different dates sought the orders of the court docket to direct the banks to freeze all different financial institution accounts of the defendants for a interval of 180 days, pending the result of investigation and inquiry being performed by the CBN.

Within the doc signed by the Presiding Decide, A.R. Mohammed, the court docket empowered the CBN to direct the banks to freeze all of the financial institution accounts for a interval of 45 days solely, pending the result of investigation.

The court docket added that the order could also be prolonged upon good causes proven.

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