Connect with us
Stanbic IBTC
Fidelity ads


#EndSARS: Nothing wrong with CBN freezing accounts – Rotimi Akeredolu

Governor Akeredolu has opined that he sees nothing wrong with the freezing of accounts of some individuals suspected to have funded the #EndSARS protests.



Spanish firm to meet Akeredolu over Ondo deep seaport project

The Governor of Ondo State, Rotimi Akeredolu, said he sees nothing wrong with the freezing of accounts ordered by CBN, as the protesters affected just need to explain to a court that their accounts had no wrongdoings.

He disclosed this in an interview with Channels TV on Wednesday.

The Governor explained that he sees nothing wrong with this, as an explanation to the courts will unfreeze a frozen account, if no wrongdoing can be proven.

Speaking very honestly, I don’t see anything wrong in it,” he said.

If for instance, my account was frozen, what would I do? All I would do is go back to court to explain. Even politicians have their accounts frozen sometimes. You have to go to court and explain. And at the end of the day, the court will say, ‘Leave the account, the account should be de-frozen’ and you take your money back.”

He added that the CBN freezes account it may suspect of wrongdoings, and freezing the accounts does not mean they were used for wrongdoings.

If your account is frozen, you justify why the money was there. You come to explain to what use you have put this money.

“It is just that CBN suspected this account, then the owner of the account will explain…is not a conclusion that those accounts were used for acts of treason.

“If it is that ‘Okay, we used this money to pay this caterer to give food to these boys when they were there. We spent money before the hoodlums took over,’ it will be explained, people will know and the accounts will be de-frozen,” Akeredolu said.

What you should know

Nairametrics reported last week that the Central Bank of Nigeria (CBN) received the nod of the federal high court in Abuja to freeze till January, the accounts of 19 individuals and a public affairs company linked to the #EndSARS protests.

The Central Bank of Nigeria disclosed this week that in order to freeze the accounts of the 20 #EndSARS promoters, they were granted approval by a Federal High Court in Abuja, arguing that the funds in their accounts might have been linked to terrorist activities.



  1. Mike

    November 12, 2020 at 8:18 am

    The news is Akeredolu said Endsar protesters whose account were freezes should sue CBN

  2. Anonymous

    November 12, 2020 at 11:50 pm

    Gov. Akeredolu, you know much better than what you said. You know that this is not as straight forward in this case, as you have put it considering the underlying factors and motivations for freezing the accounts in the first place. In your capacity as a trusted leader of people, it is highly disappointing that your statement is bereft of sincerity and is totally unrealistic. And this is the bane of our country!

  3. Anonymous

    November 13, 2020 at 5:56 am

    May God punish you people

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.


ICPC Chairman reveals #EndSARS protests was financed with cryptocurrency

ICPC Chairman has revealed to the Nigerian Senate that the #EndSARS protest was largely funded with cryptocurrency.



School feeding, ICPC, FIRS moves to stop tax evasion with newly launched intelligence system 

The Chairman of Independent Corrupt Practices and Other Related Commission (ICPC), Bolaji Owasanoye has revealed to the Nigerian Senate that the #EndSARS protest was largely funded with cryptocurrency.

This is as he said there are strong indications that it could be used to fund Insurgency in the country.

According to a report from Vanguard, this disclosure was made by the ICPC Chairman, during an interactive session with Senate Joint Committee on Banking, ICT, Cybercrime and Capital Market led by Senator Uba Sani on Tuesday, February 23, 2021.

READ: ICPC uncovers N9.8 billion Government money hidden in Aso Savings

The Joint committee was mandated to look at the decision of the Central Bank of Nigeria (CBN) to ban Cryptocurrency in Nigeria.

The ICPC boss while supporting the position of the CBN, said that the nature of operations of Cryptocurrency exposes it to money laundering and terrorism financing.

Meanwhile, the Nigerian Financial Intelligence Unit (NFIU) has said that the agency averted a $3million fraud linked to 20 bank accounts.

READ: ICPC moves against NDDC top management over corruption allegations, quizzes directors

Owasanoye further explained that the anti-graft agency currently has a number of cases linked to Cryptocurrency but is unable to track the suspects.

He brought the attention of the Senate to a period in 2018 when a number of globally rated financial institutions said their financial statements had been hacked with the perpetrators asking to be paid in Cryptocurrencies.

ICPC Chairman noted that the CBN as a regulator has the responsibility to ensure sound financial stability and it will be difficult to achieve in the case of Cryptocurrencies where the players are anonymous.

While sharing the experience of the Indian Supreme Court and how it ruled and admitted that it does not know what it is, he urged the Lawmakers to as a matter of urgency, take decisive action against Cryptocurrencies.

READ: Most powerful financial leader takes side with CBN, says Bitcoin is untrustworthy

What you should know

  • It can be recalled that the CBN had directed the financial institutions to immediately close the accounts of such persons or entities transacting in or operating cryptocurrency exchanges, warning of severe regulatory sanctions in the event of any breach of the directive.
  • The apex bank warned the Deposit Money Banks, Non-Financial Institutions and other Financial Institutions against doing business in crypto and other digital assets.
  • The latest directive is coming after the CBN had in 2018 stated that cryptocurrencies are not legal tender and as such are illegal.

Continue Reading


#OccupyLekkiTollGate: Lagos Attorney-General explains large police presence at Lekki toll gate

Lagos Attorney-General has stated that the State does not support the abuse of peaceful protesters.



The Lagos State Attorney-General, Moyosore Onigbanjo says that the reason for large numbers of policemen at the Lekki toll gate during Saturday’s protest was to prevent the protest from getting hijacked by hoodlums.

The Attorney-General of the State disclosed this in an interview with Channels TV on Sunday evening.

“Our duty is to face the dictate of the law.

“The state does not derive any joy from seeing people brutalized, but we must ensure that we have a society where law and order prevails and where everyone is free and secure to go about their businesses.

“Your right to protests only extends to where the other person’s freedom of association starts,” Onigbanjo said.

READ: #EndSARS: Sanwo-Olu presents Buhari report on Lagos destruction by hoodlums

He added that the State Government wanted to prevent any problems during the protests, citing Covid-19 regulations preventing the mass gathering of people and hoodlums hijacking the protests.

“I believe that was the desire of the state government yesterday that people can protests, but think about the Covid-19 regulations, the existing laws.

“We cannot afford the sort of vandalism we saw before, the state was genuinely apprehensive that hoodlums might take over a peaceful protest, we have seen this before. And that was why the police came out in large numbers that this did not degenerate the last time,” he added.

READ: #EndSARS: Freezing of accounts may trigger further protests – Tunde Bakare

What you should know 

Nairametrics reported over the weekend that Officers of the Nigerian Police Force arrested #OccupyLekkiTollGate protesters at the Lekki toll gate on Saturday morning.

This was confirmed by multiple media images and videos on social media, showing the protesters being arrested and loaded inside police trucks and van, popularly known as Black Maria.

Continue Reading


Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.