CBN says frozen accounts of #EndSARS campaigners due to suspected terrorism financing

CBN says frozen accounts of #EndSARS campaigners due to suspected terrorism financing

CBN says the transactions can cause significant economic and security harm.
   
   
   
       
       
           
               
                   

CBN says the transactions can cause significant economic and security harm.

               
           
               
                   

The Central Bank of Nigeria (CBN) decided to freeze the bank accounts of numerous #EndSARS campaigners because of suspected terrorism financing.

               
           
               
                   

Hundreds of Nigerians had peacefully protested in many states across the country in October to demand an end to years of wanton police brutality.

               
           
               
                   

Many of the campaigners for the demonstrations raised funds to bankroll sustenance, medical emergencies, and legal aid for the protesters.

               
           
               
                   

The CBN froze the accounts of 20 such campaigners in October, before securing a court order earlier in November to back the action many have criticised as arbitrary.

               
           
               
                   

                                   

Hundreds of Nigerians protested nationwide against police brutality in October

               

               
           
               
                   

In an ex parte order filed before a Federal High Court in Abuja, CBN said in a written address that the nature of the transactions are of suspected terrorism financing.

               
           
               
                   

The apex bank noted that this was in contravention of the nation's extant laws and regulations, according to a report by The Punch.

               
           
               
                   

The CBN argued that the transactions can cause significant economic and security harm to the country if left unchecked.

               
           
               
                   

"The applicant (CBN governor) is thus desirous to have the court empower him to direct the freezing of the 20 accounts listed on the annexure to this application and all other bank accounts held by the defendant," the application urged the court.

               
           
               
                   

CBN said the freezing order would enable it conduct investigations into the activities of the defendants who will be unable to move funds out of the accounts.

               
           
               
                   

Justice Ahmed Mohammed granted the order on November 5, 2020, over two weeks after the application was filed.

               
           
               
                   

The banks ordered to freeze the accounts of the #EndSARS campaigners are Access Bank, Fidelity Bank, First Bank, Guaranty Trust Bank (GTB), Zenith Bank, and United Bank for Africa (UBA).

               
           
               
                   

Below is a full list of account owners blocked as a result of the court order:

               
           
               
                   

1. Bolatito Rachael Oduala
2. Chima David Ibebunjoh
3. Mary Doose Kpengwa
4. Gatefield Nigeria Limited
5. Saadat Temitope Bibi
6. Bassey Victor Israel
7. Wisdom Busaosowo Obi
8. Nicholas Ikhalea Osazele
9. Ebere Idibie
10. Akintomide Lanre Yusuf
11. Uhuo Ezenwanyi Promise
12. Mosopefoluwa Odeseye
13. Adegoke Pamilerin Emmanuel
14. Umoh Grace Ekanem
15. Babatunde Victor Segun
16. Mulu Louis Teghenan
17. Mary Oshifowora
18. Winifred Akpevweoghene Jacob
19. Victor Solomon
20. Idunu A. Williams.

Source: CBN says frozen accounts of #EndSARS campaigners due to suspected terrorism financing

- gist culled from pulseng