Court Reverses Decision To Freeze Accounts Without BVN

0

A Federal High Court judge in Abuja who granted an order for bank accounts not linked to Bank Verification Numbers (BVNs) to be frozen has reversed his decision.

Justice Nnamdi Dimgba explained that he later learned that his October 17 order created an “awkward and unfortunate result.”

The reversal means that those who have not linked their bank accounts will now be able to do so at their convenient time.

Customers, however, won’t be able to withdraw funds from unlinked accounts, until such accounts are linked.

Mr. Dimgba granted the controversial orders while ruling on an ex-parte motion filed by the Attorney-General, Mr Abubakar Malami that under the Money Laundering Act (2011), bank accounts not linked to BVNs were suspicious and sought absolute forfeiture of all funds trapped therein.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CHANNELS

LEAVE A REPLY

Please enter your comment!
Please enter your name here