FG Takes Ownership Of Funds Held In Bank Accounts Not Linked To BVNs

share on:
FG Takes Ownership Of Funds Held In Bank Accounts Not Linked To BVNs

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.



I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

1 comment


    The International Investment Conference is bringing global investors together, organized by Lagos Chamber of Commerce and Industry.

    Conference unleashes investors and business owners on each other, brainstorming on how the
    country’s economy can be strengthen.

    Networking done at an increased pace between 600 attendees, enhancing recovery from the recent economical surge (recession).

    Business 2 Business exhibition at its best, covering all oil and non-oil sectors of the economy (agriculture, ICT and communications, furniture, fashion and textile)

    Speakers takes form of captains of industry to established business performers

    The conference benefits includes local capital formation and entrepreneurial aspirations which ultimately means extreme focus on SME’s.

    Not excluding the need to enhance the visibility of Lagos State and Nigeria as a whole as a key destination for both foreign portfolio and Foreign Direct Investment (FDI).

    To share your ideas with investors, register at http://www.litf2017.com

Leave a Reply

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