CBN Freezes More Accounts Over Terrorism

By Fola James

The Central Bank of Nigeria, CBN has continued its clampdown on suspicious sponsors of terrorism in the country. The apex bank on Friday disclosed that it has obtained another court order to freeze 194 bank accounts in various commercial banks and financial institutions owned by some bureau de change firms. The development comes barely few days after it stopped the operation of 11 banks accounts in First City Monument Bank, FCMB pending the conclusion of investigations on them.

The Buhari administration has recently expressed worries that some Nigerians are funneling illicit funds through bureau de change to the terror group, Boko Haram. Also, the government of United Arab Emirates, UAE recently sentenced six Nigerians and companies suspected of channeling funds to the deadly group.

According to information published by the Godwin Emefiele-led CBN, the order was obtained in a federal court, Abuja presided over by Justice, A.R. Mohammed, which directed the CBN to notify the deposit money bank, DMBs to put a lid on such accounts for nothing less than 45 days pending the outcome of ongoing investigations.

Justice Mohammed said the CBN can approach the court for an extension when necessary for further investigations.“The order may be extended upon good reasons shown. Any person aggrieved by this order could apply to the court to have the order set aside, discharged or have the order reviewed for good reasons without waiting for the 45 days to lapse,” the judge said.

The apex bank named the bureau de change undergoing investigations to include Seasons Bureau De Change Limited, Sethwealth Ventures Limited, Sani Polo Global Investment Limited, Romvic Ventures Limited and Blue Beam Capital Limited. There are over 104 others not mentioned in the court order so as not to jeopardize ongoing investigations, according to close sources in CBN privy to the issue.

On Wednesday, the apex bank obtained an interim order from an Abuja High Court presided by Justice Mohammed for 45 days to enable the government bank to conduct investigations into suspicious activities.

The order followed an exparte motion, dated March 12 and filed on March 16, for an order of the court, directing First City Monument Bank (FCMB) Limited, to freeze all transactions on the listed accounts and all other bank accounts of the defendants for 180 days pending the outcome of investigation and inquiry currently being conducted by the CBN.

The CBN listed the account owners to include 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.

“An interim Order is made empowering the applicant to direct the Head Office of First City Monument Bank Ltd to freeze forthwith all transactions on the bank accounts listed on the motion paper for a period of 45 days only pending the outcome of investigation currently being conducted by the Central Bank of Nigeria,’’ Justice Mohammed said.