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| Vice Admiral Emmanuel Ikechukwu Ogalla, Chief of the Naval Staff (CNS) |
A Federal High Court in Abuja, on Friday, issued a temporary order freezing 21 bank accounts held across 13 commercial banks.
The court further directed that the account holders be arrested by the police.
The ruling, delivered by Justice Emeka Nwite, followed an ex-parte motion filed by counsel for the Inspector-General of Police (IGP), Ibrahim Mohammed.
The motion sought to facilitate investigations into alleged financial crimes linked to the accounts.
Justice Nwite, in granting the motion, ordered the banks to provide details of the affected accounts, impose a Post-No-Debit (PND) restriction, and disable ATMs linked to the accounts.
However, the accounts were permitted to continue receiving inflows during the investigation period.
“I have listened to the submission of the learned counsel for the applicant and gone through the affidavit evidence.
“I am of the view that the motion ex-parte is meritorious,” Justice Nwite stated.
The judge emphasized that the investigation period should not exceed 90 days and adjourned the case until April 3 for further mention.
The commercial banks implicated include: Access Bank Plc, Sterling Bank Ltd, Wema Bank Plc, Fidelity Bank Plc, Zenith Bank Plc, Union Bank Plc, Guarantee Trust Bank Ltd, United Bank of Africa Plc, Stanbic IBTC Bank Plc, First City Monument Bank Plc, Heritage Bank Plc, TAJ Bank Plc, and Keystone Bank Plc.
The 13 banks are listed as the 1st to 13th defendants in the case marked FHC/ABJ/CS/1965/V/2024.
The IGP, represented by his counsel, Mohammed, stated in court documents that the accounts in question are suspected of being linked to proceeds of illegal activities, including money laundering and fraud.
The application sought orders to: Freeze the identified accounts during the investigation and potential prosecution, Instruct the banks to issue comprehensive details about the accounts, Ensure a PND is imposed, disable ATMs, and apprehend account holders attempting transactions, and report any such transactions to the police immediately.
The motion cited concerns that withdrawals or transfers from these accounts could undermine the investigation and jeopardize potential judicial orders.
In support of the application, Detective Glory Ohio, attached to the Force Criminal Investigation Department, disclosed that the Inspector-General had received a petition on February 12, 2024.
The complaint alleged stealing, breach of trust, and activities amounting to money laundering.
The petition involved a business relationship between the complainant and the defendant, centered on securing a contract with the Nigerian Navy.
The arrangement included a joint venture agreement and the opening of a joint account with Zenith Bank, where both parties served as signatories.
According to the affidavit, the complainant and defendant had agreed to share 15% of the contract’s profits.
However, disputes arose when the defendant proposed a revised agreement offering only 7.5% of the contract sum as profit sharing.
When the complainant rejected the new terms, the defendant allegedly removed the complainant as a signatory to the joint account through a purported company resolution, making himself the sole signatory.
The affidavit alleged that the defendant subsequently transferred funds from the joint account to other accounts to disguise their origin and engaged in fraudulent activities under the guise of purchasing equipment.
Ohio stated that funds disbursed for the purchase of board engines were later transferred to separate accounts controlled by the defendant, further fueling suspicions of money laundering.
Ohio emphasized that intelligence gathered during the investigation revealed ongoing efforts by the suspects to transfer or withdraw funds from the implicated accounts.
"Unless the court grants the orders, the investigation will be jeopardized," Ohio noted.
The case is scheduled for mention on April 3, 2024, and the court’s temporary orders are expected to remain in effect for 90 days, during which investigations will continue to determine the full extent of the alleged crimes.
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