The Federal High Court in Abuja has ordered eight Nigerian commercial banks to lift (unfreeze) the post-no-debit (PND) restrictions placed on 13 bank accounts that were previously frozen following a court order obtained by the Inspector-General of Police (IGP) in connection with a 2022 financial misappropriation investigation.
Justice Emeka Nwite gave the order on Wednesday following an ex parte motion filed by IGP’s counsel, Wisdom Madaki, Esq.
The motion, seen by Nairametrics, urged the court to direct eight financial institutions to unfreeze the accounts linked to the FCT Investment Promotion Agency and Public-Private Partnership (FIPA-APP), United Nations Youth Global Foundation, and 11 others to allow the respondents to resume their “normal and legitimate transactions.”
IGP’s Allegations and Request
According to the police, the case against the respondents bordered on obtaining money by false pretence, criminal breach of trust, criminal misappropriation, and cheating.
The matter was reported to the Inspector-General of Police (IGP) and referred to the Assistant Inspector-General of Police (AIG), INTERPOL, for investigation in 2022.
During the course of the investigation, the police obtained a court order to freeze the said accounts, arguing that the move was necessary to “prevent further withdrawal of funds by the suspects.”
However, according to the motion, the police investigation into the accounts has since been concluded, necessitating a court directive to unfreeze or lift the PND restrictions to allow the customers to resume their legitimate transactions.
A police officer attached to the Directorate of Legal Services, Force Headquarters, Abuja, Bassey Ibitham, deposed that “the suspect” under investigation had confessed to the allegations of misappropriation.
What Transpired in Court
At the resumed hearing on Wednesday, Madaki cited his ex parte motion and urged the court to grant the application in the interest of justice.
- He prayed the court to exercise its judicial discretion in favour of the IGP, noting that unfreezing the accounts would serve the cause of justice.
- Furthermore, he explained that lifting the PND restrictions would enable the IGP to carry out a just and discreet investigation into the activities of the respondents.
- After hearing from Madaki, Justice Nwite granted the IGP’s request as prayed.
What you should know
The development comes months after the Federal High Court in Abuja ordered four Nigerian banks to lift post-no-debit (PND) restrictions and unfreeze the accounts of five customers who were under police investigation for alleged foreign exchange fraud amounting to N150 million.
That order was issued by Justice Inyang Ekwo on September 19, 2024, following a motion ex parte filed by the IGP against Aminu Bashir Danejo, Shamwilu Muhammed, CNN Marketing, Danejo Bello Bashir, and Assar Worldwide Trade (5th to 9th respondents), with the four banks also listed as respondents.
According to the police in that case, marked FHC/ABJ/CS/852/2024, the investigation had concluded, prompting a court application to unfreeze the accounts and allow the customers to resume their legitimate transactions.
