Money laundering: Court freezes 21 bank accounts, orders holders’ arrest

A Federal High Court in Abuja has ordered the temporary freezing of 21 bank accounts domiciled in some commercial banks and directed the arrest of the account holders by the police.

The presiding judge, Justice Emeka Nwite, gave the order after counsel for the Inspector-General of Police (IGP), Ibrahim Mohammed, moved a motion ex-parte to the effect on Friday, January 3, 2025.

Justice Nwite also granted the “order directing the banks to issue details of the account package(s) and to place a Post-No-Debit (PND) on the accounts, disable the ATMs while allowing inflow into the said accounts” pending the conclusion of the investigation.”

The judge said: “I have listened to the submission of the learner counsel for applicant and gone through the affidavit evidence.

“I am of the view that the motion ex-parte is meritorious.

“The application is hereby granted except that the period of the investigation can only last for a period of 90 days.”

The judge, therefore, adjourned the matter until April 3 for mention.

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The banks are Access Bank Plc, Sterling Bank, Wema Bank Plc, Fidelity Bank Plc, Zenith Bank Plc, Union Bank Plc, Guarantee Trust Bank Limited, United Bank of Africa (UBA) Plc, Stanbic IBTC Bank Plc, First Monument Bank Plc, Heritage Bank Plc, TAJ Bank Plc, and Keystone Bank Plc.

The IGP, in the motion filed by Mohammed, sought an interim order directing the listed “banks to freeze the accounts mentioned in the schedule attached to this summon pending the investigation and prosecution of this case.”

He added: “An order directing the banks 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 account as from the date of this court order.

“An order of the court, directing the bank to apprehend the account holder or any person transacting business on the said account and contact the police through this number 09011483807”

Giving two grounds, the lawyer said the accounts are subject of investigation and are reasonably suspected to be warehousing proceeds of unlawful activities or fraud.

“If there is any dealing with the accounts by way of withdrawal or transfer to another account by the person under investigation/investigator and the person that has 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.”

The Star