Business
Don Hails Court Order On Accounts Without BVN
An academic, Prof. Charles Nwekeaku has commended the court order stopping the Federal Government from freezing accounts without Bank Verification Number (BVN).
Nwekeaku, an Associate Prof. at the Nasarawa State University, Keffi, described the order as a great relief while speaking with newsmen in Abuja, recently.
The Abuja Division of the Federal High Court had on June 22, stopped the Federal Government from freezing all accounts without BVN
The court, in a judgment delivered by Justice Nnamdi Dimgba, held that government failed to fulfill certain condition precedents that would entitle it to secure final forfeiture order in respect of funds in such accounts
Dimgba held that the government failed to comply with section 17 of the Advanced Fee Fraud.
He maintained that for government to succeed in obtaining final forfeiture order, it must be proved that funds in such accounts were abandoned or unclaimed and were also products of unlawful activity.
Dimgba also held that government must have placed an advert for anyone laying claim to such funds to come forward for it to succeed in freezing the accounts.
“Advertisement, therefore, is a necessary condition to be fulfilled”, the court held, adding, “relief sought by the plaintiff cannot be granted at this stage”. he said.
Dimgba noted that the Federal Government neither adduced any evidence to prove that funds in the accounts were proceeds of crime, nor indicated efforts it made to ensure that banks complied with interim orders of the court.
The court had in an ex-parte order on October 17, 2017, directed the Central Bank of Nigeria (CBN), and 19 commercial banks in the country to disclose all accounts in their custody without BVN and amounts in them.
The court further granted an interim order directing the banks to freeze funds in such accounts by stopping “all outward payments, operations or transactions”, pending the hearing of a substantive application.
The application was filed by the Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, Senior Advocate of Nigeria (SAN) seeking permanent forfeiture of funds in such accounts to the Federal Government.
Nwekeaku described the decision by the government as unfair because Nigerians were not given conditions at the time they opened their accounts.
“I think it was a great relief when the court ruled that government should stop action on that because a number of people may not be in country.
“We agree that the banks have given notice to people to obtain the BVN, but there are some Nigerians who have been outside the country since then.
`There may be some people who also tried to obtain this BVN but for one reason or the other did not succeed and the process is not yet completed.
“I think it was a terrible decision on the part of the government, moreover, when Nigerians opened this account there were no conditions for opening the accounts.
“And to implement conditions now is not good, it is against the rule of law, so I think the court was right and it is a good development,” Nwekeaku said.
The don said that the benefits of BVN could not be overempharsised, thus more time should be given for the process to be completed.
He said it was important for every person to get the BVN done as it would help reduce the high rate of fraud and dissuade people from making money illegally.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Sports4 days ago
CAFCL : Rivers United Arrives DR Congo
-
Sports4 days ago
FIFA rankings: S’Eagles drop Position, remain sixth in Africa
-
Sports4 days ago
NPFL club name Iorfa new GM
-
Sports4 days ago
NNL abolishes playoffs for NPFL promotion
-
Sports4 days ago
NSF: Early preparations begin for 2026 National Sports Festival
-
Sports4 days ago
Kwara Hopeful To Host Confed Cup in Ilorin
-
Sports4 days ago
RSG Award Renovation Work At Yakubu Gowon Stadium
-
Politics4 days ago
Rivers Assembly Resumes Sitting After Six-Month Suspension