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ENDSARS

#EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities

According to the affidavit, the investigation showed that the owners of the accounts may have been involved in terrorist activities.

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The Central Bank of Nigeria, in order to freeze the accounts of the 20 #EndSARS promoters, told the Federal High Court in Abuja that the funds in their accounts might have been linked to terrorist activities.

According to a report from Punch, this was contained in a written address in support of a motion ex parte filed by the Central Bank of Nigeria (CBN).

READ: Explained: CBN’s powers to seize bank account of criminals

In the case with suit number FHC/ABJ/CS/1384/2020, filed before Justice A. R. Mohammed, the CBN, however, did not mention that these 20 bank accounts were owned by individuals and organization that were involved in the #EndSARS protests, but told the court that the funds might have emanated from terrorist activities.

READ: Nigeria’s Kuda raises Africa’s all-time seed round of $10 million

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The written address partly reads, “My lord, the nature of the transactions undertaken through the defendants’ accounts are of suspected terrorism financing in contravention of Section 13(1)(a) and(b) of the Terrorism (Prevention)(Amendment) Act, 2013 and Regulation 31(2)(a) and (3)(b) of the Central Bank of Nigeria Anti-Money Laundering/Combating the Financing of Terrorism Regulations, 2013.”

(READ MORE: Covid-19: Court closures impacted revenue generation for courts – Emefiele)

In a supporting affidavit deposed to by one Aondowase Jacob, on behalf of the CBN, it was stated that the Head of the Economic Intelligence Unit of the Governor’s Department, CBN, Joseph Omayuku, had conducted an investigation on the accounts of the defendants and other individuals and entities held with certain banks in Nigeria.

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According to the affidavit, the investigation showed that the owners of the accounts may have been involved in terrorist activities.

READ: PenCom recovers N17.51billion from defaulting employers, imposes penalties

It added, “There is a grave allegation that the defendants are involved in suspected terrorism financing via their bank accounts in contravention of the provisions of extant laws and regulations. The aforesaid transactions undertaken by the defendants, using their bank accounts, can cause significant economic and security harm to the public and the Federal Republic of Nigeria if left unchecked.

READ: Availability of unsecured credit to households dips in Q3 2020 – CBN

“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 defendants.

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“A freezing order of this honorable court in respect of the defendants’ accounts would also enable the investigation of the activities of the defendants to a logical conclusion, with a view to reporting same to the Nigerian Financial Intelligence Unit.

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(READ MORE: Naira falls at black market as dollar supply drops significantly)

The apex bank said unless the order was granted, it would not be able to ensure that the money remained intact, while investigations were ongoing.

The 20 accounts frozen by the CBN after they had been flagged for receiving money with the narration #EndSARS, are domiciled in Access Bank, Guaranty Trust Bank, Fidelity Bank, United Bank for Africa, and Zenith Bank.

Justice Mohammed froze the accounts for 180 days subject to renewal, but said anyone who was not satisfied with the ruling was free to challenge it.

READ: This is a copy of the Self-Certification form govt. wants targeted account holders to fill

What you should know

Nairametrics had reported that the CBN had gotten a court order to freeze the accounts of 20 #EndSARS protesters in various banks. The ex parte order to freeze the accounts was sought by the apex bank after it had frozen the accounts.

Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

4 Comments

4 Comments

  1. Anonymous

    November 11, 2020 at 9:57 pm

    Is any them among the 6 arrested in the UAE for sponsoring book haram?

  2. Akinwale Akinwumi Olanrewaju

    November 11, 2020 at 10:52 pm

    So you Can be this efficient and still can not find the sponsors OF BOKOHARAM TERRORS in our beloved land. This is a proof that your inability to make this terrorits bow out is very intentional. Bokohara must not exist and End Sars must be realized.

    • Anonymous

      November 12, 2020 at 12:19 pm

      Well said Akinwale. After all these years that they failed to publicly identify the sponsors of bokoharam muchless frozen their accounts, and suddenly peaceful and unarmed protesters and their supporters against bad governance, oppression and injustice have become terrorists. Where are we going in this nation called Nigeria?

  3. Jackpy

    November 11, 2020 at 11:34 pm

    The use threat will never quail the issue of endsars protest. For more than a decade, victims if sars torture have crying day and night calling on the government of Nigeria but yet nothing was done. Now they have decided to take laws into their hands, all you could do is to lay alligations of been terrorists to them.
    I think the government officials should seek for good advised on how to finally put an end to this protest. Stop putting blames on youth and fix your own error.
    You are not god is can’t do mistakes.

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ENDSARS

#EndSARS: Protest hijack was catalysed by fake news – Lai Mohammed

The hijack of #EndSARS protests was catalysed by fake news and disinformation, Minister of Information, Lai Mohammed has said.

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Minister of Information, Lai Mohammed, has claimed that the hijack of the #EndSARS protests was catalysed by fake news and disinformation, which spread like wildfire on social media.
The Minister disclosed this during a stakeholders meeting with members of the broadcasting organizations of Nigeria (BON) on Friday in Abuja.

He said, “The violence that resulted from the hijack of the #EndSARS protest was catalysed by fake news and disinformation, which spread like wildfire on social media. And this did not come to us as a surprise. As far back as 2017, we had been raising the alarm on the risks posed by fake news and disinformation.
“That year, we devoted the National Council on Information to the issue of fake news, hate speech, and disinformation. The following year, in 2018, we launched the national campaign against fake news and disinformation, partnering with a number of print and electronic media organizations.
 
“Ladies and gentlemen, social media was used to guide arsonists and looters to certain properties, both public and private, during the #EndSARS violence. Then, pictures of persons, including some celebrities and even non-Nigerians, who were supposedly killed at the Lekki Toll Gate by soldiers, were circulated widely, only for those persons to refute such claims.
 
“This brings me to the issue of social media regulation. You must have heard about the hoopla this issue has generated in the media. Well, I want to confirm that we will definitely act to ensure a responsible use of social media. You may call that regulation.
He added that the FG had no plans to stifle press freedom in Nigeria and had no intention of shutting down the internet.
 
“This government has no plan to stifle free speech, neither do we have any intention of shutting down the internet. Social media has come to stay, and those who use it responsibly have nothing to fear.
“But we cannot give the same assurance for those who weaponize social media. By the way, the issue of regulating social media content is generating debate around the world, so Nigeria is not an exception,” he said.
What you should know 
Nairametrics reported earlier this month that Lai Mohammed said the Federal Government had no plans of shutting down social media, but must regulate it to prevent the spread of hate speech.

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ENDSARS

#EndSARS Sanctions: Nigeria has reached out to the UK Government – Foreign Minister

Onyeama has stated that the FG has reached out to the UK Government over the parliamentary debate on the #EndSARS protests.

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The Minister of Foreign Affairs, Mr Geoffrey Onyeama, said that the Nigerian Government has reached out to the UK Government over the parliamentary debate on the #EndSARS protests.

The Minister disclosed this to Newsmen at the Federal Executive Council (FEC) meeting on Thursday, which was recorded by Channels TV.

READ: Gov. Makinde presents N266 billion budget to Oyo State House of Assembly

He added that the UK Parliament did not speak for the UK government, and that the UK had heard the Nigerian government’s side regarding the incident at Lekki.

READ: FG reacts to CNN report, describes Lekki shooting as massacre without bodies

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“On the issue of the UK parliament, yes, we have reached out to the UK government on this question. The meeting that took place was of Parliamentarians, they don’t speak for the UK government and the UK government which acts for the United Kingdom has also heard the side of the (Nigerian) government regarding everything that happened.

READ: #EndSARS: Bankers’ Committee, Private sector lead Lagos rebuilding team to raise trust fund

“So we are in touch with them and engaging with them. But, of course, as in any democracy, the Members of Parliament are able to also air their views, but what is important is that a balanced picture is made available to them all before they take any decision,” Onyeama said.

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What you should know 

Nairametrics reported earlier this week that the British Parliament had announced it would consider a petition by some groups and individuals, asking it to apply sanctions against the Nigerian government and officials for alleged human rights violations during the #EndSARS protest and Lekki shooting incident.

Also, the presidency earlier disclosed that the Vice President, Yemi Osinbajo, had a meeting with the UK Special Envoy for Humanitarian Affairs, Nick Dyer, accompanied by the UK High Commissioner to Nigeria.

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ENDSARS

#EndSARS: States affected by violence should get 1% VAT – Senate

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The Nigerian Senate has urged the Federal Government to give states that were affected by lootings and destruction by hoodlums after the anti-police brutality protests,  1% of all Value Added Tax (VAT).

This motion was moved by Senators Abiodun Olujimi and Gershom Bassey on Tuesday and disclosed in a report by Channels TV.

What you should know 

After the lootings and destruction by hoodlums who hijacked the #EndSARS protests, Nairametrics reported that the Speaker of the House of Representatives, Femi Gbajabiamila, said Lagos State will need about N1 trillion for the reconstruction and repair of the properties and infrastructure that was vandalized in the process.

The Senators moving the motion declared that destruction caused in Lagos by hoodlums was valued at a range of over N1 trillion by the State Governor, Babajide Sanwo-Olu.

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(READ MORE: #EndSARS: Insurance firms can seek refund after indemnifying victims – MD, NICON Insurance)

Senator Gershom Bassey also revealed that hoodlums attacked federal properties in Calabar like the WAEC office and looted food warehouses in the state.

“Cross River State being a predominantly Civil Service State may not overcome the effects of the invasion since the destroyed state infrastructure were built from lean state resources over the years,” Bassey disclosed.

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Senator Sani Musa said the lootings which started in Lagos spread to other states, leading to the destruction of properties and urged for the FG’s assistance.

“#EndSARS came as a peaceful protest, but turned violent. It started in Lagos and later spread to other states which led to the destruction of homes, businesses, and government offices. It is very unfortunate. The government needs to rebuild what was destroyed and pay compensation as well. It is their responsibility,” Musa said.

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