Court Grants Temporary Forfeiture On Accounts Without BVN
A Federal High Court in Abuja has restrained commercial banks from operating bank accounts without a Bank Verification Number (BVN).
Justice Nnamdi Dimgba, while ruling on an ex-parte motion filed by the Federal Government and the Attorney General of the Federation (AGF), granted a temporary forfeiture order on such accounts and directed banks to disclose the owners of the accounts and the status of the funds in them.
Affected by the orders are Access Bank, Citi Bank, Diamond Bank, Ecobank, Fidelity Bank, First Bank, First City Monument Bank, Guaranty Trust Bank, Heritage Bank, Keystone Bank, Skye Bank, Stanbic IBTC, Standard Chartered, Sterling Bank, Union Bank, Unity Bank, United Bank for Africa, Wema Bank and Zenith Bank.
The ex-parte motion – FHC/ABJ/CS/911/2017- was filed on September 28 this year and argued by the plaintiffs’ lawyer, A. D. Tyoden.