Central Bank freezes over 150 bank accounts of Bureau De Change Companies, others

The Federal High Court in Abuja has reportedly ordered the Central Bank of Nigeria (CBN) to suspend 194 bank accounts held by Bureaux de Change companies and other organizations in order to conduct inquiries into suspicious activities.

The apex bank revealed this when it posted the three court orders on its website.

The declaration, signed by Presiding Judge A.R. Mohammed, gave the CBN the authority to order all bank accounts to be frozen for the next 45 days only, pending the results of the investigation.

“The order can be expanded if reasonable cause is shown,” it said. Without waiting for the 45 days to elapse, anyone who is affected by this order will appeal to the court to have it set down, discharged, or reviewed for good reason.”

Seasons Bureau De Change Limited, Sethwealth Ventures Limited, Sani Polo Global Investment Limited, Romvic Ventures Limited, and Blue Beam Capital Limited are among the companies that have been impacted.

According to earlier reports, the CBN had received an order on Wednesday to suspend 11 bank accounts in order to launch inquiries into suspicious activities.
The order comes after an ex – parte motion filed on March 16 asking the court to issue a mandatory order directing First City Monument Bank (FCMB) Limited to freeze all transactions on the listed accounts and all other bank accounts of the accused persons for 180 days pending the outcome of the CBN’s investigation and inquiry.

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