CBN To Freeze 194 Companies, Individuals' Bank Accounts - EDU-BIZNEWS


Friday, April 9, 2021

CBN To Freeze 194 Companies, Individuals' Bank Accounts

The Central Bank of Nigeria, CBN is set  to  freeze various bank accounts link to194 business entities and individuals in 17 banks, following seperate interim order secured from a Federal High Court in Abuja to freeze bank accounts linked to .

The apex bank in a post on its website explained that the exparte applications were filed and granted by the court, to enable it conclude the ongoing Investigation into the bank accounts of business organizations and individuals 

Justice A.R Muhammed presiding over 
 one of the suits filed by CBN against Nuru Abubakar and 24 others, granted its request last March 30,2021 to freeze the account of the defendants in the banks for 45 days.

The court in its  ruling says : “An interim order is hereby made empowering the applicant to direct the head office of the listed banks to freeze forthwith all transactions on the bank account of the defendants for a period of 45 days pending the outcome of investigation and inquiry currently being conducted by CBN.”

Similarly in another suit filed by CBN against Sethwealth Ventures and two others, the court granted an exparte application by the apex bank to freeze 50 accounts linked to the three defendants in 13 banks.

Also the apex bank was  granted  similar order in the suit it filed against Bluebeam Capital Ltd, to freeze 60 accounts of the company in 13 banks.

The 17 banks affected are Access Bank, First City Monument Bank, Fidelity Bank, Sterling Bank, Keystone Bank, Providus Bank, United Bank for Africa (UBA), Wema Bank and First Bank.

Others are Guaranty Trust Bank, Ecobank Bank, Heritage Bank, Polaris Bank, Zenith Bank, Stanbic IBTC Bank, Standard Chartered Bank and Union Bank.

The companies affected include Bluebeam Capital Limited, Sethwealth Ventures, Seasons Bureau De Change, Lat-Ade Logistics, Sani Polo Global Investment Ltd, Saneo Global Resources Limited and Romvic Ventures Nigeria Limited.

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