Fidelity bank banner Camano banner
Court refuses to order forfeiture of funds in accounts without BVN

By Eric Ikhilae, Abuja on 22/06/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 505


A Federal High Court in Abuja has refused a prayer by the Federal Government (FG) for the permanent forfeiture of funds in accounts without commercials banks without Bank Verification Number (BVN).

Justice Nnamdi Dimgba, in a judgment on Friday, said the prayer could not be granted because the Federal Government has not laid sufficient foundation for the grant of such prayer.

The judgment was on a suit marked: FHC/ABJ/CS/911/2017, filed by the FG and the Attorney General of the Federation (AGF) against Access Banks, other commercial banks and Central Bank of Nigeria (CBN).

The judge said the FG has not met the conditions provided under Section 17 of the Advance Fee Fraud Act, by proving that the funds in the BVN-less accounts are proceeds of crime and that they are unclaimed.

Justice Dimgba said the interim freezing order on the accounts,  made by the court on October 17, 2017 but modified on November 15, 2017, still subsists.

The order is: “An interim order of the honourable court stopping all outward payments, operations or outward transactions (including any bill of exchange) in respect of the accounts pending the linking of the accounts to a Bank Verification Number”.

The judge asked the Federal Government to take the necessary steps to fulfil the conditions under Section 17 of the Advanced Fee Fraud Act and ensure compliance with the October 17, 2017 order (The Nation)

 

Source News Express

Posted 22/06/2018 8:58:50 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Activist identifies cause of Nigeria’s underdevelopment

Bukola Saraki and the race for Senate Presidency,...

Super Eagles set to vanquish Congolese Devils in...

Bowen varsity students protest against drug test

Deaf football coach seeks councils’ support for development...

FG set to take ‘Change Begins With Me’...

Killings: US to designate Nigeria ‘Country of Particular...

Abia Assembly passes vote of confidence on Governor...

Mandatory use of identity numbers begins in January...

Amnesty Programme beneficiaries seal Igbinedion University Hostel

Why Americans work so hard

Petroleum tanker drivers protest suspension of loading at...

 

Latest News Gunmen ambush, kill Ex-Defence Chief Alex Badeh Court sacks Kashamu as Ogun PDP governorship candidate Army pulls out five Generals 2019: Any vote for Buhari means insecurity, killings, hunger, Dogara tells North East electorate Maiduguri residents angry over 24 hours electricity supply ‘How bank cashiers aided armed robbers to steal my N2m’ Ogonis go to the polls to elect new MOSOP leadership FCC Director arraigned over N8.8m job scam Buhari accuses NASS of inflating debts payable to states, excluding four states 14 suspected kidnappers, armed robbers nabbed in Kaduna Adeleke faces fresh charges on exam fraud Opposition coalition okays budget presentation by Buhari to National Assembly

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (431,392 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,699 views) Shameless Genevieve Nnaji exposes breasts in public (328,564 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,842 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,545 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,606 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,653 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,853 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (180,339 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,871 views) Lagos plane crash: Journalist releases victims’ names (167,677 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (154,098 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,894) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (681) Global Business Monitor (313) International (2,843) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (79) News (41,567) Opinion (1,154) Pidgin (13) Politics (8,235) Religion (920) Sports (1,831) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera