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Tag: Accounts

  • Court freezes 32 bank accounts linked to #EndBadGovernance Protest

    Court freezes 32 bank accounts linked to #EndBadGovernance Protest

    A Federal High Court in Abuja has frozen the bank accounts of 32 individuals and companies’ linked to the 10-day #EndBadGovernance Protest organised across the country pending investigation and prosecution of the case.

    Justice Emeka Nwite, in a ruling on the ex-parte motion moved by counsel for the Inspector-General (I-G) of Police, Ibrahim Mohammed, also ordered the banks to apprehend the account holders or any person transacting business on the said accounts.

    Justice Nwite, who granted the motion dated and filed on Aug. 20, directed the banks to contact the Nigeria Police Force through the telephone numbers: 08035179870 and 07032449912 as soon  as arrest is made.

    “That the banks are hereby directed by this honourable court to issue details of the account package(s) and to place a Post-No-Debit (PND) on the accounts, disable the ATM while allowing inflow into the said accounts as from the date of this court order,” the judge declared.

    The News Agency of Nigeria (NAN) reports that though the ruling was made on Thursday, the certified true copy of the order was sighted on Sunday in Abuja.

    The account numbers affected include 4010073491 (Fidelity Bank), 1255130019 (Access Bank), 0006084167 (Abbey Mortgage Multipurpose Bank Plc), 0821931299 (FCMB), 1012007655 (FCMB), 0000575573 (A AG Mortgage Bank Plc), 1007871587 (UBA), 2037117333 (UBA),  5421031104 (ECOBANK ) and 0024541201 (Union Bank).

    Others are 1022899050 (UBA),  8755008491 (Branch International Services Ltd), 5630208636 (Fidelity), 4936992542 (Fairmoney Microfinance Bank).

    Others are 8755008499 (Branch International Financial Services Ltd), 2088228208 (UBA), 2115678044 (Zenith Bank), 3041823452 (First Bank), 1011828445 (New Edge Finance), 3024402748 (Fusrt Bank), 0161502459 (GTBank) and 0040580047 (Access Bank),

    They also include 0250291788 (Wema Bank), 6112464260 (Branch International Financial Services Ltd), 1000774097 (Sparkle Microfinance Bank Ltd), 3434649965 (Fairmoney Microfinance Bank), 2013556714 (KUDA Microfinance Bank), 3104962864 (Polaris Bank), 6112464267 (Branch International Finance Services Lit), 8137051249 (OPAY) and 8137051249 (PALMPAY).

    The I-G, in the application marked: FHC/ABJ/CS/1219/2024, had listed PA.LIN.HO Global Service Ltd, Innocent Angel Lovet Chinyere Nkiru, Obidient Movement Multipurpose Cooperative Society, Innocent Angel Lovet, Great Communicators Champion Multipurpose Cooperative Society Ltd as 1st to 5th respondents respectively

    Others include Great Communicators Champion Multipurpose Cooperative Society Ltd, Opaluwa Eleojo Bob-Simon, NUEE State Chapter,  Adeyemi Abiodun Abayomi, Adaramoye Michael Tobiloba, Popoola Festus as 6th to 11th respondents respectively.

    Mohammed, in his four-ground argument, said the accounts as contained in the schedule in respect of which reliefs sought are subject of investigation and are reasonably suspected to be warehousing proceeds of unlawful activities or fraud.

    “If there is any dealing with the account by way of withdrawal or transfer to another account by the persons under investigation/investigator and the persons that have absolute power to deal with the account will render nugatory any consequential order(s) which the court may make at the conclusion of this application,” he said.

    According to him, the accounts are used to promote the offence of criminal conspiracy, terrorism financing, treasonable felony, cyberbullying and cyberstalking which was illegally transferred to the account of the accused persons now at large.

    “That the accused persons were involved in hosting another country’s flag in order to undermine the sovereignty of Nigerian state,” he added.

    In the affidavit in support of the motion ex-parte, Gregory Woji, a detective attached to Force Criminal Investigation Department, deposed that preliminary investigation revealed that some suspects arrested were being recruited by some financiers to cause mayhem and destroyed life and property,

    Woji said preliminary investigation further revealed that the financiers were sending money to recruit the indigents and other vulnerable individuals to carry banners and overthrow a democratically elected government.

    According to him, preliminary investigation further reveals that some foreign nationals were the harrow head in the unscrupulous act of treasonable felony and promoting terrorism financing in Nigeria.

    He said the act of the accused persons is akin to the offence of criminal conspiracy, terrorism financing, treasonable felony, cyberstalking and cyberbullying.

    He said it is the function of the police to stop this act by apprehending the offenders as offence to one is an offence to all.

    According to Woji, intelligent report gathered so far reveals that the suspects are making effort to transfer or withdraw money from the accounts and unless this honourable court grants this order, otherwise, the investigation will be jeopardise.

    “That it will be in the interest of justice to grant this request by freezing the account of the said suspects and order their immediate arrest on sighting them pending the outcome of the investigation and possible prosecution,” he averred.

  • Fx crisis: Court permits EFCC to freeze 1,146 individuals, coys accounts [See affected accounts]

    Fx crisis: Court permits EFCC to freeze 1,146 individuals, coys accounts [See affected accounts]

    A Federal High Court, Abuja has granted an interim order sought by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts belonging to individuals and companies over allegations bordering on unauthorised dealing in foreign exchange, among others.

    According to reports, other offences being investigated by the EFCC bordered on money laundering and terrorism financing.

    Justice Emeka Nwite, in a ruling on the ex-parte motion moved by counsel for the anti-graft agency, Ekele Iheanacho, also granted the commission’s application to conclude the investigation within 90 days.

    Justice Nwite said: “It is hereby ordered as follows:

    “That the applicant’s application is hereby granted as prayed.

    “That an order of this honourable court is hereby made freezing the bank accounts stated in the schedule below which accounts are owned by various individuals who are currently being investigated in a case involving the offences of unauthorised dealing in foreign exchange, money laundering and terrorism financing to the extant that the investigation will be for a period of 90 (Ninety) days.”

    NAN reports that though the ruling was delivered on April 24, its certified true copy was sighted on Monday.

    The EFCC, in the motion ex-parte marked: FHC/ABJ/CS/543/2024 dated and filed April 24 by Iheanacho, was heard by the judge same day in the interest of national interest.

    The motion was brought pursuant to Section 44(2) and (K) of the 1999 Constitution; Section 34 of the EFCC Establishment Act 2004; Section 7(8) of the Money Laundering Prevention and Prohibition Act, 2022 and under the inherent juruduxtion of the court.

    The agency had sought the order freezing the bank accounts stated in the schedule attached to the motion pending the conclusion of the investigation.

    Giving three grounds upon which the reliefs were sought, it said: “the bank accounts in respect of which the reliefs are sought are subject matters of investigation by the EFCC in relation to money laundering and terrorism financing.

    “That preliminary investigation conducted thus far reveals that the bank accounts are linked to persons who take advantage of the virtual crypto currency exchange platforms to illegal manipulate the value of Naira and laundering proceeds of unlawful activities.

    “That there is need to preserve the funds in the identified bank accounts pending the conclusion of investigation and possible prosecution.”

    Justice Nwite consequently adjourned the matter until July 23 for mention.

    Some of the account names mentioned in the attached schedule are Akitoye Adeyemi Ayomide with GTBank account number; 0165110025; Clyp Trading Ltd, Titan Trust Bank account number: 0000331101; Clyp Consulting Ltd, Providous account number: 9401374554; and Toyetech Platforms Ltd, Titan Trust Bank account number: 0000134962.

    They also include Winx International Platforms Ltd, Titan Trust Bank account number: 0000135055; Shutterscore Trading Platforms Ltd, Access Bank account number: 1532363954; Tradecillion Trading Ltd, Stanbic IBTC account number: 0045672922; and Nsofor Nmamdi, GTBank account number: 0449088666

    They equally include Kora Payments Network Ltd-Operations, UBA account number: 1022242089; Renderstack Technologies Ltd, Zenith Bank account number: 1210355120; Korex Payments Ltd, Globus account number: 5000007837; and Awe Microfinance Bank Ltd, Providous account number: 5400760781; and Victor Asuquo, Opay Digital Services Ltd account number: 9020132068.

    Others are Akingbade Sabit Juwon, ECONANK account number: 3442053006; Nsofor Nmamdi, Union Bank account number: 0140460572; Asuquo Samuel, First Bank account number: 3153199542; Oty Ugochukwu Stanley, FCMB account number: 4039304011; Oty & Sons Global Concepts, Fidelity Bank account number: 6060410145; and Pelumi Ayandoye, Wema Bank account number: 0234852277; and David  Ajala, Fidelity Bank account number: 5090680780, among others.

    NAN had, on March 18, reported that Justice Nwite equally ordered Binance Holdings Limited to provide EFCC with the comprehensive data or information of all persons from Nigeria trading on its platform.

    The judge granted the interim order on Feb. 29 to enable the anti-graft agency unravel the alleged money laundering and terrorism financing on Binance, a crypto currency exchange platform.

    The commission had told the judge that its investigation team uncovered users who had been using the platform for price discovery, confirmation and market manipulation which had caused tremendous distortions in the market, resulting in the Naira losing its values against other currencies.

    It said that from the information afforded to the team by Binance showed that the total trading volume from Nigeria in 2023 alone stood at $21.6 billion.

    NAN reports that while EFCC is currently prosecuting Binance and two of its executives on alleged money laundering charge, the Federal Inland Revenue Service (FIRS) is prosecuting the company on alleged tax evasion offences.

  • Benue uncovers 600 govt bank accounts

    Benue uncovers 600 govt bank accounts

    The Benue Government, says it discovered over 600 banks accounts operated by the immediate past administration.

    The State Commissioner for Finance and Budget Planning, Mr. Michael Oglegba, said this was contrary to the 25 bank accounts the administration was shown on assumption of office.

    The Commissioner said this on Tuesday when members of the Correspondents Chapel of the Nigeria Union of Journalists (NUJ) paid him a courtesy visit in Makurdi.

    Oglegba said that the government uncovered the extra accounts from the information obtained through the Nigerian Inter Bank System.

    Oglegba said Gov. Hyacinth Alia had frozen all government accounts after taking over to enable the government understand what was on ground.

    “When we came in, we asked for the accounts and bank statements and we were presented with about 25 bank accounts.

    “A causal look at the Nigerian Inter Bank System showed that Benue Government has more than 600 accounts.

    “So the Governor needed to freeze those accounts to know exactly what was happening,” he added.

    Oglegba Gov. Alia has been able to reduce the state wage bill following ongoing audit of the system, adding that the process was still ongoing and actual figures would be announced when completed.

    On the state’s debt profile, he said both the state and local governments have a cumulative debt of over N359 billion.

    “The debts owed by the State itself was in excess of N200 billion. This includes local and foreign debts.

    “However, the LGAs also have their own debts, unpaid salaries, pensions, gratuities and local contractors that made up the other N150 billion.

    “The Alia administration has no reason to lie about the State debts.

    “We will be doing ourselves a great disservice if we say we own monies that we do not own. When we need loans for example who will give us?”

    The commissioner further disclosed that the handing over notes from the immediate past administration indicated that there were 19,000 pupils and 16,000 teacher, but which do not exist physically.

    He said that by the figure presented by the previous administration, it meant that the state has one pupil to one teacher ratio, which was false.

    Oglegba said the Alia administration has done so much within its five months in office without borrowing to meet its financial obligations.

    He said he has embarked on the construction of 16 township roads in Makurdi, installation of street lights, rehabilitation and remodeling of the state Assembly complex, and renovation of the state Secretariat, among others.

    He added that the government had also paid five months salaries in the last four months while all contractors handling government projects have been paid without collecting any loan.

    The commissioner urged members of the correspondents chapel to always be objective and ensure balance in their news reports, adding that the government would work closely with them.

    Earlier, Chairman of the chapel, Mr Emmanuel Antswen said they were ready to partner with the government to ensure that citizens were made abreast of government policies and programmes at all times.

  • Nasarawa State Assembly directs Executive to remit 10% of IGR to LG accounts monthly

    Nasarawa State Assembly directs Executive to remit 10% of IGR to LG accounts monthly

    Nasarawa State House of Assembly has directed the Executive arm of government to allocate 10 per cent of Internally Generated Revenue to the Local Government Joint Accounts monthly as required by law.

    This, it said, is for speedy development at the grassroots.

    Alhaji Ibrahim Balarabe Abdullahi, Speaker of the House gave the directive when the House deliberated on the report of its Ad-hoc Committee that investigated the finances of local governments.

    The committee also investigated factors responsible for lack of development at the grassroots.

    “Recommendations of the committee are as follow: that in compliance with the State-Local Government Joint Accounts Law, 10 per cent of Internally Generated Revenue is to be remitted on monthly basis to the joint account.

    “All Ecological Funds be paid directly to each local government’s Ecological Account.

    “The Ecological Account must be opened in the same bank where the local government’s bank account is domiciled to ensure transparency and accountability.

    “That the Executive arm of government should ensure that local governments fulfilled all criteria to benefit from the State Fiscal Transparency Accountability and Sustainability policy,’’ he said.

    The speaker directed the Clerk of the House to communicate the resolution to the governor for necessary action.

    On Sept. 26, a member drew the attention of the House to the dwindling fortunes of local governments as a result of poor or inadequate funding.

  • N784.3m Debt: Court orders unfreezing Of Benue accounts

    N784.3m Debt: Court orders unfreezing Of Benue accounts

    The Federal High Court Abuja, on Tuesday, ordered the unfreezing of all accounts belonging to the Benue Government except one domiciled in Zenith bank.

    Justice Inyang Ekwo gave the order after adoption of Memorandum of Undertaking (MOU) by lawyers representing parties in the suit.

    The News Agency of Nigeria (NAN) reports that while the Assets Management Corporation of Nigeria is the claimant/applicant in the case, HPPS Multilinks Services Ltd and Benue Government are 1st and 2nd respondents.

    The MoU dated Jan. 25 and filed on Jan. 26 was adopted on Feb. 1.

    Leading other counsel, Mr T.D Pepe (SAN) adopted the MoU on behalf of Benue government while

    Mr Val Igboanusi adopted on behalf of the plaintiff.

    Mr A. T Kehinde (SAN) adopted for Fidelity Bank Plc, and Mr C. O. Nwosisi, was for GTBank Plc and counsel for the other banks also adopted on behalf of their clients.

    Justice Ekwo subsequently ordered that Zenith bank with account No. 1013470079 designated as Benue Government Ecological Account
    remained frozen in the sum of the disputed debt vide interim order of the court pending the determination of the case.

    He, however, ordered the unfreezing of all Benue government accounts with Access Bank Plc, Citibank Nigeria Ltd, Ecobank Nigeria Ltd, Fidelity Bank Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc and Heritage Bank Pic.

    Other banks were the court ordered that Benue government accounts be unfrozen are Keystone Bank Ltd, Polaris Bank Ltd, Stanbic IBTC Bank Plc, Standard Chartered Bank Ltd, Suntrust Bank Nigeria Ltd, Union Bank of Nigeria Plc, UBA Plc, Unity Bank Nigeria Plc and Wema Bank Plc.

    The judge adjourned the matter until March 2 for a report on the order.

    “Pursuant to discussions and agreement by the parties, all other accounts of the Benue government frozen by this court vide interim order of Oct. 26, 2021 are to be unfrozen while Account No. 1013470079 with

    Zenith Bank Plc, designated Benue Government Ecological Account shall remain frozen in the sum of the disputed debt, pending the determination or resolution of the dispute.

    NAN recalls that Justice Ekwo had upon an ex parte application dated and filed on Sept. 30 2021, made an interim order freezing and attaching the accounts of both HPPS Multilinks Services Ltd and Benue government who were 1st and 2nd respondents domiciled in the mentioned banks.

  • Paris Club: Court stops FG from deducting $418m from 36 states’ accounts

    Paris Club: Court stops FG from deducting $418m from 36 states’ accounts

    The Federal High Court in Abuja has stopped the Federal Government from executing its plan to deduct $418 million from the bank account of the 36 states of the Federation.

    Justice Inyang Ekwo issued a restraining order against the Federal Government on Friday following an ex parte application brought by the counsels to the 36 states, Jibril Otukepa and Ahmed Raji.

    While moving the application, Okutepa who led the legal team of the states told the judge that the states would be completely crippled if the federal government should go ahead to deduct the huge amount from the bank accounts of their clients.

    In 2006, Nigeria paid $12 billion to get a $18 billion debt write-off by the Paris Club of international creditors.

    States and local governments that did not owe the Paris Club, according to reports, later asked for a refund after it was discovered that the payment was made directly from the revenue accruing to the entire federation.

    Reports later emerged that some consultants, who claimed a percentage of the refunds as payment for services they said they rendered to the states and local governments, went to court in a bid to get their pay.

    The sum of $418 million was agreed as a judgment debt after the Federal Government opted to negotiate an out-of-court settlement with the contractors.

    But this move was rejected by the states who sought redress in court after the Federal Government said it would commence the deduction.

    The Attorneys-General of the 36 states were listed as plaintiffs in the suit filed by their lawyers on October 27.

    Joined as respondents included the President, the Attorney-General of the Federation, the Accountant-General of the Federation, and the Ministry of Finance.

    Others were the Central Bank of Nigeria, the Debt Management Office, the Federal Account Allocation Committee, and various commercial banks in the country.

    The states, among others, had also sought an order of interim injunction restraining the Federal Government, any of its agencies, or any other person from deducting any money due to the states for the payment of any judgement debts arising from contracts and suits in relation to the Paris Club Refund.

    They requested the refund of any money deducted by the government from the Federation Account so far in relation to the issue in dispute, without the express consent of the states.

    The states based the application on 13 grounds, which included that the plaintiffs were the attorneys-general and chief law officers of their respective states as created by the Constitution.

    “Part of the deductions in the FAAC summary is for the liquidation of judgement debts in favour of persons who neither had any contractual relationship with the plaintiffs/applicants nor obtained any judgement against any of the plaintiffs/applicants,” the fourth ground of the application read.

  • Court orders CBN to temporarily unfreeze accounts of two fintech companies

    Court orders CBN to temporarily unfreeze accounts of two fintech companies

    The Federal High Court, Abuja, on Tuesday, granted the request of Bamboo Systems Technology Limited and Bamboo Systems Tech. Ltd., to partially vary the freezing order made against them.

    The companies had filed an application praying for variation on the grounds that they needed funds to pay rent and workers’ salaries.

    Mr Chiezohu Okpoko (SAN), Counsel to the two firms, told the court that his clients were also seeking an amicable resolution of the matter.

    Mr Michael Aondoakaa, (SAN), Counsel to the Central Bank of Nigeria (CBN), who had filed the ex-parte motion to freeze the companies’ accounts, told the court that he was not opposed to the application for variation.

    “They want a partial variation to allow them access funds to pay rent and workers’ salaries; they also want an amicable settlement.

    “We are not opposed to this and we are open to an amicable settlement, all we want is that they should operate within the guidelines of the law.

    “So we agree to a partial variation to the extent of what they have asked for with regard to paying rent, salaries and an amicable settlement,” Aondoakaa said.

    In his ruling, Justice Ahmed Mohammed granted the prayer for partial variation of the order, and ordered the accounts of the two companies to be unfrozen.

    “An order is hereby made varying the freezing order of this court made on Aug. 17, as it affects the 2nd and 3rd respondents.

    “This is to allow the companies to pay rent on the property they are occupying, pay salaries of workers and allow for amicable settlement,” he said.

    The judge, thereafter, adjourned the matter until February 17, 2022.

    TheNewsGuru.com, TNG reports that the court had on August 17, granted CBN’s request to freeze the accounts of the two companies and other firms allegedly involved in fraudulent financial activities.

    Some of the affected companies included; Rise Vest Technologies Limited, Bamboo Systems Technology Limited, Bamboo Systems Tech. Ltd., CTL/Business Expenses and Trove Technologies Limited.

    The court order, empowered the CBN to direct heads of Zenith Bank, Guarantee Trust Bank, Standard Chartered Bank, Access Bank and VFD Microfinance Bank to freeze the companies’ accounts for a period of 180 days.

    Aondoakaa, told the court that some of the firms were owned by individuals and organisations based in the U.S.

    He said the accounts were to be frozen pending the outcome of investigation and inquiry currently being conducted by the CBN.

    The counsel said that the application was premised on the grounds that the firms were using the foreign exchange sourced from the Nigerian market to purchase foreign bonds and shares.

    According to him, such practice contravenes the CBN directive given in July 2015.

  • Igboho approaches court for order restraining FG from blocking his accounts

    Igboho approaches court for order restraining FG from blocking his accounts

    Embattled Yoruba nation agitator Chief Sunday Adeyemo aka Sunday Adeyemo will on Wednesday seek an order restraining the Federal Government from further blocking his bank accounts.

    The request is contained in an order of interim injunction to be moved by his lawyers at an Oyo State High Court.

    The injunction will seek an order restraining the Attorney General of the Federation (AGF) and the Department of State Security Service (DSS) from further breach of his fundamental human rights pending the determination of the main suit earlier filed.

    Igboho had filed an originating motion seeking orders declaring invasion of his Ibadan residence on July 1 illegal, restraining security agencies and their agents from further invasion and N500 billion damages for the invasion.

    The suit, the lawyers said, derived from Order 11, Order XI and XIL of the fundamental human rights (enforcement procedure rules 2009, and under the inherent jurisdiction of the court as preserved by section 6 of the 1999 constitution.

    DSS personnel had stormed Igboho’s house in Soka area of Ibadan between 1am and 3am on July 1, shooting their way through.

    Two persons were killed in the incident while 14 people were arrested.

    The DSS has paraded the suspects and ammunition which they allegedly recovered from his house.

    But the embattled agitator, who is standing trial in Cotonou, Benin Republic, denied he kept ammunition in his house, saying the armed law enforcers must have come with the said ammunition.

    In the suit, Igboho, through his lawyer Chief Yomi Aliu (SAN), is seeking orders declaring the invasion as a violation of his fundamental human right, damage of his property as a violation of his fundamental right to peacefully own property and wealth as well as N500 billion damages among others.

    The sum was described as “exemplary and/or aggravated damages for breaching the applicant’s fundamental rights in the course of illegal and/or malicious invasion of his residence situate, lying and being at Igboho Villa. No.1, Dalag Street, Off Soka Bus Stop, Soka Area, Off Lagos-Ibadan Expressway, Ibadan.”

    Igboho is also asking the court for a declaration that it was “oppressive, malicious, arbitrary and grossly unconstitutional for the 2nd & 3rd respondents to invade the residence of the Applicant situate, lying and being at Igboho Villa, 1, Dalag Street, Off Soka Bus Stop, Soka Area, Off Lagos-Ibadan Expressway, Ibadan without announcing who they were and ask the applicant to open his gate but rather shot their way through killing two people including an elderly Imam doing Tahjud (night vigil), shooting at cars thereby destroying them and not sparing animals like cats and dogs in total violation of the intendments of the Fundamental Human Rights’ provision in CFRN, 1999 and African Charter on Human and Peoples Rights (Ratification and Enforcement), Act, LFN 2010. protecting the-dignity of human person, sanctity of human life and privacy c citizens and their homes.”

    It also urged the court to declare that “the respondents’ resolve in preventing the applicant from propagating his belief in association with other like minds in creating a Yoruba Nation and/or Oduduwa Republic for his Indigenous Yoruba People and hunting him with gun with a view to arresting him dead or alive when he has not called for war in achieving same is against his fundamental rights to freedom of thought, conscience and association since campaign for self-determination is recognized by Nigerian Law and international treaties of organisations to which Nigeria belongs.”

    He prayed the court for an injunction restraining the respondents from arresting, harassing or disturbing him in any way that can violate his fundamental human rights.

  • Court orders freezing of Shell’s accounts in 20 Nigerian banks

    Court orders freezing of Shell’s accounts in 20 Nigerian banks

    In a bid to recover the cash value of more than 16 million barrels of crude oil allegedly diverted from AITEO Eastern E & P Company Ltd., a Federal High Court sitting in Ikoyi, Lagos has granted an interim injunction directing 20 commercial banks to freeze the accounts of Shell Petroleum Development Company of Nigeria Ltd.

    Justice Oluremi Omowunmi Oguntoyinbo gave the order following an ex parte application by AITEO Eastern E & P Company Ltd who is the plaintiff/applicants with SPDC Ltd listed as the first defendant.

    Other defendants are Royal Dutch Shell Plc, Shell Western Supply and Trading Ltd, Shell International Trading and Shipping Company Ltd and Shell Nigeria Exploration and Production Company Ltd which are listed as second, third, fourth and fifth defendants.

    The 20 banks where Shell companies operate accounts in Nigeria were also named as respondents in the suit.

    AITEO’s application was filed by Messrs Kemi Pinheiro SAN leading Dr Mike Ozekhome SAN, Dapo Olanipekun SAN and four other SANs.

    Justice Oluremi Omowunmi Oguntoyinbo directed the 20 banks to “ring-fence any cash, bonds, deposits, all forms of negotiable instruments to the value of $2.7 billion and pay all standing credits to the Shell companies up to the value into an interest yielding account in the name of the Chief Registrar of the court.”

    The Chief Registrar is to “hold the funds in trust” pending the hearing of the motion and determination of the motion on notice for interlocutory injunction filed before it by AITEO.

    The order followed an application by AITEO Eastern E & P against SPDC and the other defendants with the 20 lenders as respondents.

    The court restrained the defendants or their agents/privies from presenting to the banks ”any mandate or instrument for the withdrawal of any money and /or funds standing to the credit of any of the accounts” of the defendants kept/maintained “at any of the named respondent banks… “without first preserving/ring-fencing the sum of $1,251,305.5 or its equivalent in any other official currency including but not limited to the naira and/or pound sterling being the value of the plaintiff’s 1,022,029 barrels of crude oil (at the rate of $79.50 per barrel as stated in the Department of Petroleum Resources (DPR) letter dated 8th day of July, 2020.”

    The defendants were further restrained in the interim from presenting to the named banks any mandate or instrument for the withdrawal or any money and/or funds standing to the credit of any of the accounts of the five defendants kept or maintained at any of the named respondent banks and or their branches without first preserving and or ring-fencing the total sum of $2,700,583,779,75 or its equivalent in any other official currency comprising of $799,000,000.00.

    The sum is “the amounts claimed to have been paid in this suit by the plaintiff to the five defendants for the acquisition of the Nembe Creek Trunk Line (NCTL)pipelines and the assets; $389,631,877.76 being the total amount claimed in this suit as having been lost by the plaintiff arising from the leakages in the NCTL and the degraded conditions of the NCTL; $578,951,901.99 being the total amount claimed in this suit as having been lost by the plaintiff arising from the crude theft/larceny in the NCTL; $933,000,000 being the total amount claimed in this suit as having being expended by the plaintiff for the repairs of the pipelines and acquisition of the equipment including well-heads, generators and pumps as well as replacing the flow lines within the NCTL;

    “That pending the hearing and determination of the motion on notice for interlocutory injunction, the named banks whether by themselves, director, managers, officers or howsoever are restrained in the interim from accepting, honouring or giving effect in any manner howsoever to any mandate, cheque or instructions presented by all the five defendants whether by themselves or through their agents or privies for the withdrawal of any sum of money and/or funds standing to the credit of all the defendants kept and or maintained at any of the named banks and or their branches without first preserving and or ring-fencing the sums as ordered in prayers 1,2,3 and/or 4 above.”

    Justice Oguntoyinbo further directed the respondents’ banks “to pay any sums of money standing to the credit of the defendants within 48 hours of the service of the order of this honourable court up to the sum/value of the amounts stated in prayers 1,2,3, and 4 above into an interest yielding account in the name of the Chief Registrar of this honourable court, who is to hold same in trust;

    “Pending the hearing and determination of the motion on notice for an interlocutory injunction, the respondent banks are directed to sequestrate and/or ring-fence any cash, bonds, deposits, all forms of negotiable instruments or chose(s) in the action due to or standing to the credit sum/value of the amounts stated in prayer 1,2,2 and/or 4 above;

    “that pending the hearing and determination of the motion for an interlocutory injunction, the named banks are directed to file within 48 hours of service of the order of this honourable court on them returns of the statement of account of the all the five defendants maintained with them as at the date of the order of this honourable court, such returns to be verified by affidavits.

    When the matter came up in court, the judge was informed that the defendants had filed an application seeking to discharge the order.

    The judge adjourned further proceedings till Wednesday, February 24.

  • Supreme Court rejects request to unfreeze Abacha’s accounts in UK, Switzerland, others

    Supreme Court rejects request to unfreeze Abacha’s accounts in UK, Switzerland, others

    The Supreme Court has declined the request by a brother to the late Head of State, Sani Abacha, Alhaji Ali Abacha, to unfreeze the accounts traced to him and relatives of the late Abacha in the United Kingdom, Switzerland, Jersey, Liechtenstein and Luxembourg.

    In a unanimous judgment on Friday, a five-man panel of the court, led by Justice Sylvester Ngwuta, held that Ali Abacha’s case was statute barred as at when it was commenced in April 2004 at the Federal High Court in Kaduna.

    The judgment was in the appeal marked: SC/359/2010, filed by Alhaji Ali Abacha, said to be a brother of the late Gen Sani Abacha.

    In the lead judgment prepared by Justice Kudirat Kekere-Ekun, but read on Friday by Justice Ejembi Eko, the court held having dismissed a similar appeal in an easier judgment given in February last year, it has no reason to depart from its reasoning that case brought by Alhaji Abba Mohammed Sani on behalf of the Abacha family.

    The court said it noticed that the appellant in this appeal is represented by R. O. Atabo esq, who, incidentally, was the appellant’s counsel in the earlier appeal.

    “No new superior arguments were proferred here to warrant a departure from the decision in the case of Alhaji Sani, earlier decided. This appeal fails, and it is hereby dismissed. Parties to bear their costs,” the court said.

    The appeal was against the July 19, 2010 unanimous judgment of the Court of Appeal, Kaduna division, in which a three-man panel set aside the September 24, 2004 judgment by Justice Mohammed Liman of Federal High Court, Kaduna, earlier given in favour of Ali Abacha.

    Abacha had sued at the Federal High Court, Kaduna in 2004, challenging among others, the 1999 decision by the Olusegun Obasanjo’s administration, acting through the Attorney General of the Federation (AGF) and Minister of Justice, Kanu Agabi (SAN), to request the freezing of all accounts traced to the late Abacha, his family members and relatives in the United Kingdom, Switzerland, Jersey, Liechtenstein and Luxembourg.

    He prayed the court to, among others, void the freezing of the accounts on the grounds that the AGF lacked the powers under the Banking (Freezing of Accounts Act, Cap 29, Laws of Nigeria,under which he claimed to have acted, to request the foreign nations to freeze his accounts and those of the companies in which he is a director.

    Justice Liman, in his judgment on September 24, 2004, upheld the claims by Ali Abacha and granted all the reliefs sought, a decision the AGF, listed as the sole defendant, appealed at the Court of Appeal, Kaduna division.

    In their judgment on July 19, 2010, in the appeal marked: CA/K/71/2005, Justices John Inyang Okoro, Baba Alikali Ba’aba and Mohammed Lawal Garba of the Court of Appeal, Kaduna, were unanimous in holding that the suit was statute barred.

    They equally held that the AGF was not accorded fair hearing by the Federal High Court, and proceeded to set aside the judgment by Justice Liman, a decision Ali Abacha appealed to the Supreme Court, which the apex court decided on Friday.

    A five-member panel of the Supreme Court had, in its February 1, 2020 judgment in the earlier appeal, marked: SC68/2010 by Abba Mohammed Sani, held among others, that it was was too late for the Abacha family to query the decision taken by the Federal Government of Nigeria in 1999, via a letter authored by the then Minister of Justice and Attorney General of the Federation (AGF), Kanu Agabi (SAN).

    Justice Chima Nweze, who authored the panel’s lead judgment, held among others, that in view of the evidence presented by parties, he was left with no other options than to uphold the earlier concurrent decisions of the two lower courts (the Federal High Court, Kano and the Court of Appeal, Kaduna division), to the effect that the suit was statute barred.

    Justice Nweze said: “In all forms, with the eloquent submission of the respondents’ counsel, and submissions anchored on the admitted evidence, I have no hesitation in affirming the concurrent decisions of the lower courts.

    “Accordingly, I hereby enter an order dismissing this appeal. I further affirm the concurrent findings and decisions of the lower courts. Appeal dismissed.”

    According to court documents, the then President, Olusegun Obasanjo, in December 1999, authorized the then AGF, Agabi to request the Swiss authorities to freeze all bank accounts held in its jurisdiction by the late Head of State, General Abacha, his children, servants, agents and any other individuals or companies liked to them between 1993 and 1998.

    The Nigeria government was also said to have requested the Swiss authorities to seize and detain all banking and other documents relating to the affected accounts, charge and prosecute all holders of such accounts, in order to recover and pay over to the Federal Government of Nigeria all monies falsely and fraudulently taken from the government and people of Nigeria.

    Also, the FG was said to have engaged a foreign financial investigator, Enrico Monfrini of Hauchomann & Bottage in Geneva, Switzerland, to assist in recovering “all looted monies by Gen Abacha and his family members and other public servants and third parties who have used their position or participated as accomplices to misappropriate public funds.”

    Following these steps by the Federal Government, the accounts of the Abachas found in Switzerland, United Kingdom, Jersey, Liechenstein and Luxembourg were frozen, a development members of the late Head of State challenged by filing a suit, marked: FHC/KN/CS/6/2004, on January 28, 2004 before the Federal High Court, Kano.