Court orders eight banks to unfreeze accounts linked to 2022 police probe

The Federal High Court in Abuja has directed eight commercial banks to lift the post-no-debit (PND) restrictions placed on 13 accounts earlier frozen by order of the court in connection with a 2022 financial misappropriation probe initiated by the Inspector-General of Police (IGP).

Justice Emeka Nwite issued the order on Wednesday after considering an ex parte motion filed by IGP’s counsel, Wisdom Madaki, Esq.

The motion sought an order directing the banks to unfreeze the accounts belonging to the FCT Investment Promotion Agency and Public-Private Partnership (FIPA-APP), United Nations Youth Global Foundation, and 11 other entities.

The police explained that the unfreezing was necessary to enable the account holders to resume normal and legitimate financial transactions.

The affected accounts were initially frozen in 2022 following a police investigation into alleged offences of obtaining money under false pretence, criminal breach of trust, misappropriation, and cheating.

The investigation, which was referred to the Assistant Inspector-General of Police (AIG), INTERPOL, was said to have been concluded.

A police officer from the Directorate of Legal Services, Force Headquarters, Abuja, Bassey Ibitham, deposed that the suspects had made confessional statements during the investigation, and that there was no further need to restrict the accounts.

At the resumed hearing, Madaki urged the court to lift the restrictions, arguing that the move was in the interest of justice and would facilitate a fair and discreet conclusion of the case.

Justice Nwite subsequently granted the motion as prayed.

The decision follows a similar ruling in September 2024, when Justice Inyang Ekwo of the same court ordered four Nigerian banks to unfreeze the accounts of five customers under investigation for alleged foreign exchange fraud involving N150 million.

In that case, the police also sought the lifting of PND orders after concluding their investigation.

The latest ruling underscores the court’s position that once investigations are completed, frozen accounts may be released to enable affected parties to resume lawful financial activities.