A Federal High Court in Abuja, on Monday, ordered the temporary freezing of 45 bank accounts belonging to three companies allegedly involved in smuggling of rice into Nigeria.
The companies whose accounts were domiciled with 10 commercial banks in Nigeria, according to the News Agency of Nigeria (NAN) are Sun Sam A1 International Limited, Sun Sam International Limited and Sunchrist O. Trans Nigeria Limited.
Justice Ahmed Mohammed directed the head offices of the affected banks to freeze forthwith all transactions from those accounts for 45 days.
He said this was pending the outcome of the investigation and inquiry currently being conducted by the Central Bank of Nigeria (CBN).
Ruling on an ex parte application on behalf of the apex bank by its counsel, Nosike Nicholas, to freeze the accounts for 90 days, the judge granted the apex bank permission to freeze the accounts for only 45 days.
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He said the order of freezing for 45 days was subject to renewal for further days, upon an application by the CBN in the event that its investigation could not be concluded within the first 45 days.
Nosike anchored the application on Section 60, Paragraph (B) of the Banks and other Financial Institutions Act (BOFIA) 1991 as amended.
He told the court that there was an ongoing investigation against the defendants who were customers of the commercial banks.
According to him, transactions under the accounts could cause significant financial loss to the rice industries in particular and the Nigerian economy in general, while the case was adjourned till December 12.
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