Court Freezes 21 Accounts and Orders Arrests Amid Money Laundering Investigation
A Federal High Court in Abuja has temporarily frozen 21 bank accounts suspected of being involved in unlawful activities and ordered the arrest of their holders. Justice Emeka Nwite made the ruling after the counsel for the Inspector-General (I-G) of Police, Ibrahim Mohammed, moved a motion ex-parte.
The court also directed the banks to issue details of the accounts, place a Post-No-Debit (PND) on the accounts, and disable the ATMs, allowing only inflows to the accounts while the investigation continues. The order is set to last for 90 days, with the next hearing scheduled for April 3, 2024.
The 13 commercial banks named in the ruling include Access Bank, Sterling Bank, Wema Bank, Zenith Bank, and UBA, among others. The I-G sought the order, citing the need to prevent the account holders from withdrawing or transferring funds while investigations into the suspected money laundering activities are underway.
According to the application, the accounts are suspected to be used for warehousing proceeds from fraudulent activities. The affidavit presented in court described how an alleged contract fraud involving the Nigeria Navy led to the investigation. The complaint accused a company called Indetix Limited and its partners of stealing from a joint account created for contract purposes. The suspect allegedly removed one of the signatories to the account to carry out the fraudulent transfers, further complicating the case.
The police officer involved in the investigation revealed that the funds were being transferred to various accounts in an attempt to launder the money. Intelligence reports also suggested that the suspects were attempting to withdraw or transfer funds from the accounts. Justice Nwite granted the order to prevent these activities, emphasizing the need for continued investigation into the matter.
