Reps summon CBN over alleged clampdown on 5,000 accounts
The Home of Representatives has resolved to research the allegation that the Central Financial institution of Nigeria has flagged over 5,000 personal and company accounts in Deposit Cash Banks. The transfer adopted the unanimous adoption of the movement moved on the plenary on Tuesday, titled ‘Allegations of unjustifiable, inhuman, unlawful and premeditated freezing of financial institution accounts in Nigeria by the Central Financial institution of Nigeria.’
Adopting the movement, the Home requested the CBN to, inside 48 hours, start a assessment of all presently frozen accounts in Nigeria and after one week, take away the freeze order on accounts frozen, in clear violations of the provisions of the 1999 and Part 608 of BOFIA 2004.
The classes of the unlawful freezing of accounts, the Home stated, are accounts frozen earlier than a sound court docket order was obtained, accounts frozen with out acquiring a court docket order, accounts frozen with out offering the chance for honest listening to to the account holder, and accounts frozen however until date, haven’t being referred to the Nigeria Police Power, Nationwide Drug Legislation Enforcement Company or some other applicable regulatory authority for investigation.
Others are the accounts frozen which are unconnected to the account suspected for involvement within the fee of crime, accounts remaining frozen after court docket’s authorised interval of freeze has elapsed with out acquiring a recent order from a court docket, accounts remaining frozen even after investigation has not indicted the account holder, and accounts frozen with out documentary proof of petition or purpose for suspicion of involvement within the fee of crime.
The Home additionally mandated the Committee on Banking and Forex to “instantly invite all related and affected stakeholders to a public investigation of the circumstances surrounding the freezing of all accounts presently frozen by the CBN in Nigeria.”
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