fbpx
Connect with us

Economy

CBN gets order to freeze 194 accounts in 17 banks

Published

on

CBN gets order to freeze 194 accounts in 17 banks

The Central Bank of Nigeria, CBN has secured three separate interim orders from a Federal High Court in Abuja to freeze bank accounts linked to 194 business entities and individuals in 17 banks.

This was contained in a post by the apex bank on its website yesterday pursuant to the court order. The freeze orders were sequel to three exparte applications filed by the apex bank seeking a mandatory order of the court to ask the 17 banks to freeze the account of the business organizations and individual pending the outcome of an ongoing investigation the apex bank had initiated.

In one of the suits against Nuru Abubakar and 24 others, the court granted the request by CBN to freeze the account of the defendants in the banks for 45 days. Justice A.R Muhammed who made the order in his ruling on March 30, 2021, said: “An interim order is hereby made empowering the applicant to direct the head office of the listed banks to freeze forthwith all transactions on the bank account of the defendants for a period of 45 days pending the outcome of investigation and inquiry currently being conducted by CBN.”

ALSO READ;

In another suit filed by CBN against Sethwealth Ventures and two others, the court granted an exparte application by the apex bank to freeze 50 accounts linked to the three defendants in 13 banks. A similar order was also made in the suit by CBN against Bluebeam Capital Ltd freezing 60 accounts of the company in 13 banks.

The 17 banks affected are Access Bank, First City Monument Bank, Fidelity Bank, Sterling Bank, Keystone Bank, Providus Bank, United Bank for Africa (UBA), Wema Bank and First Bank. Others are Guaranty Trust Bank, Ecobank Bank, Heritage Bank, Polaris Bank, Zenith Bank, Stanbic IBTC Bank, Standard Chartered Bank and Union Bank.

The companies affected include Bluebeam Capital Limited, Sethwealth Ventures, Seasons Bureau De Change, Lat-Ade Logistics, Sani Polo Global Investment Ltd, Saneo Global Resources Limited and Romvic Ventures Nigeria Limited.

 

Comments
Please follow and like us:
Advertisement
Click to comment

Leave a Reply

Economy

Nigerian/Ghanaian Traders Conflict: Peace Delegates set to arrive Ghana

Published

on

Nigerian/Ghanaian Traders Conflict: Peace Delegates set to arrive Ghana

The ministerial delegates sent by President Muhammadu Buhari are set to arrive Ghana.
The delegation led by Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, according to a statement issued on Monday by the Special Assistant to the Minister on Media, Mr Ifedayo Sayo will be resolving the lingering conflict between Nigerian traders and Ghanaian authorities.

They would also engage in further dialogue with Ghanaian authorities with a view to finding a lasting solution to the problem. Sayo in his statement stated that the delegation would undertake the visit between May 31 and June 1, 2021.

Nigerian/Ghanaian Traders Conflict: Peace Delegates set to arrive Ghana

The meeting was attended by the Minister of State, Federal Ministry of Foreign Affairs, Ambassador Zubairu Dada; the  Permanent Secretary, Ministry of Industry, Trade and Investment, Dr Nasir Sani-Gwarzo; also included the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Ms Yewande Sadiku; Chief Executive Officer, Nigerian Diaspora Commission, Hon Abike Dabiri; and President of National Association of Nigerian Traders (NANTS), Dr Ken Ukaoha, who are also members of the delegation.

Recall, several years ago, the Nigerian Traders in Ghana had been having issues with Ghanaian Authorities with records of maltreatment, molestation and forceful closure of shops. The Ghanaian authorities had imposed regulations and traders were required to pay one million dollars business registration fee and taxes under the regulations

.

The trade issues intensified when shops belonging to Nigerians in Accra were being locked up by Ghanaian authorities who demanded evidence of the Ghana Investment Promotion Council’s (GIPC) registration.

However, Nigerian traders in Ghana had expressed displeasure and insecurity of their wares and livelihoods in 2020 due to the challenges and appealed to Federal Government to evacuate them back to Nigeria.

Also read:

 

 

Comments
Please follow and like us:
Continue Reading

Economy

Zenith Bank and Access Banks Set to Acquire Union Bank

Published

on

Zenith Bank and Access Banks Set to Acquire Union Bank

Two Nigerian lenders – Zenith Bank Plc and Access Bank Plc – are among the list of financial institutions from Africa and the Middle East that have indicated an interest in the acquisition of Union Bank Plc and other African assets of Atlas Mara Group, a Pan-African banking group.

Bloomberg which disclosed this quoted sources familiar with the matter to have disclosed that Atlas Mara Limited, the London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond has received a number of approaches for its 49.97 per cent holding in Lagos-based Union Bank of Nigeria.

Zenith Bank Plc and Access Bank Plc are among the suitors that have expressed interest alongside other African rivals such as Morocco’s Attijariwafa Bank, the sources said.

THISDAY also confirmed the development from sources in the two tier-1 banks, who also pleaded to remain anonymous.

Middle Eastern banks and private equity suitors have also shown interest, according to the sources. Some potential buyers have indicated that they may acquire all of Atlas Mara’s remaining assets in Africa, which would include its Zimbabwe unit, they said.

Atlas Mara has been working with Rothschild & Co. to consider options for its Union Bank stake. No final decisions have been made, and there’s no certainty the deliberations will lead to a transaction, the people said.

Also Read;

Representatives for Atlas Mara and Zenith Bank didn’t immediately respond to requests for comment. Attijariwafa Bank Managing Director “Ismail Douiri” and a representative for Access Bank declined to comment.

A deal could bring down the curtain on Atlas Mara’s African foray after Diamond, a former Barclays Plc chief executive officer, misjudged competition on the continent and overpaid for acquisitions. The company said recently that it’s secured regulatory approval for the sales of its businesses in Botswana and Mozambique and received interest in other assets, without elaborating.

 

 

 

 

 

 

 

 

 

 

 

 

Atlas Mara also said it completed a planned restructuring process and extended a standstill agreement with its creditors to May 17 to complete the necessary documentation. It’s still in legal disputes with two creditors, TLG and Norsad, it added.

The coronavirus pandemic has accelerated the need to reposition the company, which has seen a plunge of about 96% in its stock since it started trading toward the end of 2013. The firm’s stake in UBN, Nigeria’s sixt

Commenting on the matter, Frontier and Sub-saharan Africa Banks’ Analyst, Renaissance Capital, Adesoji Solanke, wrote in a note made available to THISDAY yesterday:h-biggest bank by market value is its largest investment and seen as a foothold into the continent’s most populous nation.

“Good for Atlas Mara if they’re able to exit successfully, as they’ve been selling a bunch of assets over the past year, to KCB and Access Bank respectively across different markets. Whether they get a good valuation for Union Bank is another thing.

“We don’t think it’ll be a transformational deal for Access or Zenith (Return-on-Equity dilutive for both), but could be a good way for the Middle Eastern banks to get a decent foothold in the market. We suspect getting the other private equity investor block to sell will be critical as we wouldn’t expect a strategic bank investor to desire a minority shareholding.”

Comments
Please follow and like us:
Continue Reading

Economy

NDLEA Recovers Drugged Cakes, Cocaine in Fast-foods at Enugu and Plateau

Published

on

NDLEA Recovers Drugged Cakes, Cocaine in Fast-foods at Enugu and Plateau

 

Operatives of the National Drug Law Enforcement Agency have raided some eateries in Jos, the Plateau state capital where freshly baked cakes made with cannabis sativa were recovered in addition to 48.726kilogrammes of assorted psychotropic substances.

 

Director, Media & Advocacy, Femi Babafemi, who disclosed this in a statement on Monday, May 3, said some of the drug joints raided include KNL Lounge located along Lamingo road and another branch along Mining Quarters, Rantya Low Cost estate, as well as Tuscany Lounge on Azaki Ave, all within Jos metropolis.

 

NDLEA raids eateries in Plateau and Enugu, recovers drugged cakes

Beside the drugged cakes called brownie recovered from the three eateries, psychotropic substances also seized from there include: Barcadin Codeine 14kg; Flunitrazapem 355.5grammes; Tramadol 370.1 grammes; Exol-5, 30kg; Diazepam 2.5kg and Pentazocine 1.5 kg, totalling 48.726kg. The Plateau Commander, Ibrahim Braji disclosed that five persons have so far been arrested in connection to the seized drugs.

 

In the same vein, Enugu state Command of the Agency equally at the weekend raided the Nsukka axis of the state capital where a 28-year-old lady, Oodo Ndidiamaka was arrested with 80.23grammes of cocaine and 3.81grammes of methamphetamine. The state Commander of NDLEA, Abdul Abdullahi said the Command remains committed to unraveling other members of the drug cartel in the state.

 

NDLEA raids eateries in Plateau and Enugu, recovers drugged cakes

Meanwhile, operatives of the Niger state Command of the Agency have arrested a 24-year-old 400-level student of the Federal University of Technology, Minna, Abel Godwin Idio for selling two strong variants of cannabis, Arizona and loud, concealed in textbooks. He was arrested in Gidan Kwano within the vicinity of the university.

 

According to the state Commander of the Agency, Haruna Kwetishe, “Abel uses the inner pages of his textbooks to conceal the drugs within the campus to sell.” While stating that Abel was arrested on Friday 30th April, 2021, he said two other traffickers; Yahaya Joshua and Yahaya Audu, were arrested the previous day along Mokwa-Jebba road with 32kilogrammes of cannabis sativa.

 

Chairman of NDLEA, Brig. General Mohamed Buba Marwa (Retd) in his reaction, commended the Plateau, Enugu and Niger Commands of the Agency for disrupting the activities of drug cartels in their respective states.

 

He charged them to remain relentless in pursuit of the Agency’s mandate to rid Nigeria of illicit drugs.

 

NDLEA raids eateries in Plateau and Enugu, recovers drugged cakesNDLEA raids eateries in Plateau and Enugu, recovers drugged cakesNDLEA raids eateries in Plateau and Enugu, recovers drugged cakes

 

Comments
Please follow and like us:
Continue Reading

Let’s keep you updated

Advertisement

Instagram

HOW TO BUY FOLLOWERS FOR ALL YOUR SOCIAL MEDIA ACCOUNTS

GET YOUR E-BOOKS

get post notifications

Get new posts by email

How to know when you meet Mr./Mrs. Right- Banky W.

Gorgeous Bride rocking one of Beyonce’s Hit song

Most Viewed Posts

Trending

error

We know you enjoy our storylines. Please spread the word to your friends :)

%d bloggers like this:
Enable Notifications    OK No thanks