The Federal Excessive Court docket in Abuja has ordered eight Nigerian industrial banks to raise (unfreeze) the post-no-debit (PND) restrictions positioned on 13 {bank} accounts that had been beforehand frozen following a court docket order obtained by the Inspector-Normal of Police (IGP) in reference to a 2022 {financial} misappropriation investigation.
Justice Emeka Nwite gave the order on Wednesday following an ex parte movement filed by IGP’s counsel, Knowledge Madaki, Esq.
The movement, seen by Nairametrics, urged the court docket to direct eight {financial} establishments to unfreeze the accounts linked to the FCT Funding Promotion Company and Public-Personal Partnership (FIPA-APP), United Nations Youth World Foundation, and 11 others to permit the respondents to renew their “regular and bonafide transactions.”
Based on the police, the case towards the respondents bordered on acquiring cash by false pretence, legal breach of belief, legal misappropriation, and dishonest.
The matter was reported to the Inspector-Normal of Police (IGP) and referred to the Assistant Inspector-Normal of Police (AIG), INTERPOL, for investigation in 2022.
Through the course of the investigation, the police obtained a court docket order to freeze the stated accounts, arguing that the transfer was essential to “stop additional withdrawal of funds by the suspects.”
Nevertheless, in line with the movement, the police investigation into the accounts has since been concluded, necessitating a court docket directive to unfreeze or raise the PND restrictions to permit the shoppers to renew their professional transactions.
A police officer hooked up to the Directorate of Authorized Providers, Power Headquarters, Abuja, Bassey Ibitham, deposed that “the suspect” below investigation had confessed to the allegations of misappropriation.
On the resumed listening to on Wednesday, Madaki cited his ex parte movement and urged the court docket to grant the appliance within the curiosity of justice.
The event comes months after the Federal Excessive Court docket in Abuja ordered 4 Nigerian banks to raise post-no-debit (PND) restrictions and unfreeze the accounts of 5 clients who had been below police investigation for alleged overseas trade fraud amounting to N150 million.
That order was issued by Justice Inyang Ekwo on September 19, 2024, following a movement ex parte filed by the IGP towards Aminu Bashir Danejo, Shamwilu Muhammed, CNN Advertising, Danejo Bello Bashir, and Assar Worldwide Commerce (fifth to ninth respondents), with the 4 banks additionally listed as respondents.
Based on the police in that case, marked FHC/ABJ/CS/852/2024, the investigation had concluded, prompting a court docket software to unfreeze the accounts and permit the shoppers to renew their professional transactions.
