Opinion
Fuss Over BVN Deadline
Justice Nnamdi
Dimgba of the Federal High Court, Abuja, caused nervousness among stakeholders in Nigerian banks with his recent interim order for the forfeiture to the Federal Government of all monies in the bank accounts of corporate/governmental institutions and individuals that are without Bank Verification Numbers (BVN).
The court had also ruled that the order should be enforced two weeks from the date it was issued if owners of such accounts failed to show cause why their monies should not be relinquished.
It further ordered the 19 commercial banks in the country to disclose the details of all such accounts in their custody, the balances in the accounts, their owners and their proceeds in affidavit of compliance deposed to by their chief compliance officers, pending the determination of the substantive suit. The order followed an application by the Attorney General and Minister of Justice, Abubakar Malami, SAN, on behalf of the Federal Government.
This ruling has brought forth mixed reactions across the length and breadth of the country. The banks are already considering filing a class-action suit to prevent the Federal Government from executing the order.
The government claims that as at February 2017 there were over 51.72 million accounts in the banking sector without BVN. A statement by the Nigerian Interbank Settlement System, NIBSS, indicated that there were a total of 97.57 million accounts in the banking sector as at February with only 51.72 million of them with BVN.
The development has engendered raging debates on the legality or otherwise of the planned forfeiture of funds in accounts without BVN. Opinions are segmented while some Nigerians keep fulminating against the government; has government crossed permissive lines in the banking industry?
Many Nigerians have interrogated its legality and have reached the conclusion that the action, if implemented, will discourage financial inclusion that the nation is in dire need of. They equally fear that the seizure of these funds may also inhibit financial system stability.
As the argumentation advances, the questions to ask are, what will happen if an account holder has died and the matter is in administration or when money in an account is a subject of litigation? What will the bank do in such circumstances? Will it abdicate a customer’s deposit and face litigation?
Again, what will be the fate of Nigerians in Diaspora who have accounts domiciled in the country but are without BVNs? What about Nigerians serving long prison terms? Will they lose their deposits as well?
To me, these are questions that require immediate answers, not the uncertainties that the ordered loss may throw up. Clearly, the plan by government to take over monies in these accounts isn’t well thought-out. The scheme was rushed through to ambush funds in certain bank accounts that have not been linked to the BVN scheme.
The Federal Government needs to adopt cautious approach to the matter to avert actions that may derail the intended gains of the court order, which is to rid the banking industry of money laundry and other inappropriate practices.
There is also the apprehension that if implemented, the relinquishment order could lead to a liquidity squeeze in the country, even if it enhances honesty and transparency in the banking sector. That may eventually cause the economy to shrink again and become very complicated to manage. These options have to be carefully weighed.
What I expect the government to do is to develop policies that will embolden rather than dampen financial inclusion. Moreover, there are still challenges in the implementation of the BVN scheme which should have been corrected by now before resorting to the courts to confiscate monies without BVNs.
I am not inadvertent of the fact that the Federal Government is desperately seeking ways to broaden its revenue base. But this shouldn’t be done at the prejudice of the citizens’ constitutional rights. I agree completely with lawyers who have argued that deploying interim orders for permanent purposes such as individual or corporate assets does not forebode well for Nigerians.
After all, there is no provision in the Money Laundering (Prohibition) Act (2011), that makes BVN a condition precedent to operate a bank account in Nigeria. BVN is a mere policy decision of the Central Bank of Nigeria, CBN, and so lacks the force of law. As such, it may not be expedient for a competent court of law to base its decision on an executive policy not backed by law.
The truth is that the CBN has to grant all account holders sufficient time to comply with its directive. Enforcing the order of forfeiture without an Act of the National Assembly amounts to illegality and an infraction of the constitutional rights of citizens and the corporate bodies involved.
Rather than seize funds in the accounts, the government should restrict access to non BVN accounts, especially if it vigorously suspects that they are being utilised for money laundering and other illegal activities.
By: Arnold Alalibo
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Wike VS Soldier’s Altercation: Matters Arising
The events that unfolded in Abuja on Tuesday November 11, 2025 between the Minister of the Federal Capital Territory, Chief Nyesom Wike and a detachment of soldiers guarding a disputed property, led by Adams Yerima, a commissioned Naval Officer, may go down as one of the defining images of Nigeria’s democratic contradictions. It was not merely a quarrel over land. It was a confrontation between civil authority and the military legacy that still hovers over our national life.
Nyesom Wike, fiery and fearless as always, was seen on video exchanging words with a uniformed officer who refused to grant him passage to inspect a parcel of land alleged to have been illegally acquired. The minister’s voice rose, his temper flared, and the soldier, too, stood his ground, insisting on his own authority. Around them, aides, security men, and bystanders watched, stunned, as two embodiments of the Nigerian state clashed in the open.
The images spread fast, igniting debates across drawing rooms, beer parlours, and social media platforms. Some hailed Wike for standing up to military arrogance; others scolded him for perceived disrespect to the armed forces. Yet beneath the noise lies a deeper question about what sort of society we are building and whether power in Nigeria truly understands the limits of its own reach.
It is tragic that, more than two decades into civil rule, the relationship between the civilian arm of government and the military remains fragile and poorly understood. The presence of soldiers in a land dispute between private individuals and the city administration is, by all civic standards, an aberration. It recalls a dark era when might was right, and uniforms conferred immunity against accountability.
Wike’s anger, even if fiery, was rooted in a legitimate concern: that no individual, however connected or retired, should deploy the military to protect personal interests. That sentiment echoes the fundamental democratic creed that the law is supreme, not personalities. If his passion overshot decorum, it was perhaps a reflection of a nation weary of impunity.
On the other hand, the soldier in question is a symbol of another truth: that discipline, respect for order, and duty to hierarchy are ingrained in our armed forces. He may have been caught between conflicting instructions one from his superiors, another from a civilian minister exercising his lawful authority. The confusion points not to personal failure but to institutional dysfunction.
It is, therefore, simplistic to turn the incident into a morality play of good versus evil.
*********”**** What happened was an institutional embarrassment. Both men represented facets of the same failing system a polity still learning how to reconcile authority with civility, law with loyalty, and service with restraint.
In fairness, Wike has shown himself as a man of uncommon courage. Whether in Rivers State or at the FCTA, he does not shy away from confrontation. Yet courage without composure often feeds misunderstanding. A public officer must always be the cooler head, even when provoked, because the power of example outweighs the satisfaction of winning an argument.
Conversely, soldiers, too, must be reminded that their uniforms do not place them above civilian oversight. The military exists to defend the nation, not to enforce property claims or intimidate lawful authorities. Their participation in purely civil matters corrodes the image of the institution and erodes public trust.
One cannot overlook the irony: in a country where kidnappers roam highways and bandits sack villages, armed men are posted to guard contested land in the capital. It reflects misplaced priorities and distorted values. The Nigerian soldier, trained to defend sovereignty, should not be drawn into private or bureaucratic tussles.
Sycophancy remains the greatest ailment of our political culture. Many of those who now cheer one side or the other do so not out of conviction but out of convenience. Tomorrow they will switch allegiance. True patriotism lies not in defending personalities but in defending principles. A people enslaved by flattery cannot nurture a culture of justice.
The Nigerian elite must learn to submit to the same laws that govern the poor. When big men fence off public land and use connections to shield their interests, they mock the very constitution they swore to uphold. The FCT, as the mirror of national order, must not become a jungle where only the powerful can build.
The lesson for Wike himself is also clear: power is best exercised with calmness. The weight of his office demands more than bravery; it demands statesmanship. To lead is not merely to command, but to persuade — even those who resist your authority.
Equally, the lesson for the armed forces is that professionalism shines brightest in restraint. Obedience to illegal orders is not loyalty; it is complicity. The soldier who stands on the side of justice protects both his honour and the dignity of his uniform.
The Presidency, too, must see this episode as a wake-up call to clarify institutional boundaries. If soldiers can be drawn into civil enforcement without authorization, then our democracy remains at risk of subtle militarization. The constitution must speak louder than confusion.
The Nigerian public deserves better than spectacles of ego. We crave leaders who rise above emotion and officers who respect civilian supremacy. Our children must not inherit a nation where authority means shouting matches and intimidation in public glare.
Every democracy matures through such tests. What matters is whether we learn the right lessons. The British once had generals who defied parliament; the Americans once fought over states’ rights; Nigeria, too, must pass through her own growing pains but with humility, not hubris.
If the confrontation has stirred discomfort, then perhaps it has done the nation some good. It forces a conversation long overdue: Who truly owns the state — the citizen or the powerful? Can we build a Nigeria where institutions, not individuals, define our destiny?
As the dust settles, both the FCTA and the military hierarchy must conduct impartial investigations. The truth must be established — not to shame anyone, but to restore order. Where laws were broken, consequences must follow. Where misunderstandings occurred, apologies must be offered.
Let the rule of law triumph over the rule of impulse. Let civility triumph over confrontation. Let governance return to the path of dialogue and procedure.
Nigeria cannot continue to oscillate between civilian bravado and military arrogance. Both impulses spring from the same insecurity — the fear of losing control. True leadership lies in the ability to trust institutions to do their work without coercion.
Those who witnessed the clash saw a drama of two gladiators. One in starched khaki, one in well-cut suit. Both proud, both unyielding. But a nation cannot be built on stubbornness; it must be built on understanding. Power, when it meets power, should produce order, not chaos.
We must resist the temptation to glorify temper. Governance is not warfare; it is stewardship. The citizen watches, the world observes, and history records. How we handle moments like this will define our collective maturity.
The confrontation may have ended without violence, but it left deep questions in the national conscience. When men of authority quarrel in the open, institutions tremble. The people, once again, become spectators in a theatre of misplaced pride.
It is time for all who hold office — civilian or military — to remember that they serve under the same flag. That flag is neither khaki nor political colour; it is green-white-green, and it demands humility.
No victor, no vanquish only a lesson for a nation still learning to govern itself with dignity.
By; King Onunwor
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