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CBN Receives Order To Freeze 11 FCMB Accounts

GTB, Zenith, 8 Other Banks Fied N2.5bn By CBN, SEC For Market Infractions

The Central Bank of Nigeria has received an order from the Federal High Court in Abuja division to freeze 11 FCMB accounts to enable it conduct investigations into some suspicious activities.

The apex disclosed in two documents posted on its website on Wednesday said the court granted the freezing of the accounts for 45 days.

The order was granted by the Presiding Judge, A.R. Mohammed.

The names of the defendants/respondents whose accounts would be frozen are Albert Austin Ugochukwu with two bank accounts; Belfour Energy & Allied Services; Belfour Oil and Gas Limited with three bank accounts; Circle Flow Integrated Services; Kacynaus Reality Nigeria Limited with three bank accounts; and Tasmara Integrated Services.

The motion exparte which was dated March 12 and filled on March 16 sought the mandatory order of the court to direct First City Monument Bank Limited to freeze all transactions on accounts and all other bank accounts of the defendants for a period of 180 days pending the outcome of investigation and inquiry currently being conducted by the CBN.

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According to the document, the investigation was connected to a female who is an ‘Assistant Manager of the CBN, Central Business District, Oluwatoyosi Suwebat Oladipo’.

It added that the order was renewable on expiration but only on good reasons shown.

The court also gave an opportunity to anyone affected by the order to approach the court to set aside, discharge or have the order reviewed for good reasons.

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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