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Funds Held In Bank Accounts Not Linked To BVNs To Be Seized By Federal Government

Justice Nnamdi Dimgba of the Federal High Court in Abuja has granted a request by Attorney General of the Federation, Abubakar Malami, for a temporary forfeiture of all funds held in bank accounts not linked to BVNs and those whose ownership could not be completely identified.

According to the court documents, seen by Premium Times, also to be seized by the Nigerian government are funds held in bank accounts without sufficient know-your-customer credentials.

The order came on the back of an originating motion of notice filed by Mr. Malami on behalf of the Nigerian government on September 28.

Justice Dimgba granted all the nine reliefs sought by Mr. Malami —himself represented by a lawyer, Usman Dakas— on October 17.

The court ordered all the 19 deposit money banks, DMBs, operating in the country to release to Nigerian government names of accounts not yet connected to BVN; account numbers; their outstanding balances; domiciling locations; and domiciliary accounts without BVN and where they are domiciled.

Nigeria deposit money banks that were listed as respondents in the ex-parte suit are: Access Bank, Citi Bank, Diamond Bank, Ecobank, Fidelity Bank, First Bank and First City Monument Bank.

Others are: Guarantee Trust Bank, Heritage Bank, Keystone Bank, Skye Bank, Stanbic IBTC Bank, Standard Chartered Bank, Sterling Bank, Union Bank and United Bank for Africa.

The remaining three are: Unity, Bank Wema Bank and Zenith Bank.

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