Nigerian government to seize bank accounts without BVN

In an aggressive drive towards shoring up its revenue base, the Federal Government has through Nnamdi Dimgba, a judge of the Federal High Court, Abuja, secured an order granting temporary forfeiture of funds kept in accounts without Bank Verification Number (BVN) and whose ownership could not be clearly identified, to it.
Also granted was an order to seize funds held in bank accounts “with insufficient Know Your Customer (KYC) guidelines”.
The order which followed an originating motion of notice filed by the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, on behalf of the Nigerian government on September 28, was issued on October 17.
The court ordered that all the 19 Deposit Money Banks (DMBs) operating in the country release to the Nigerian government, names of accounts not yet connected to BVN, account numbers, their outstanding balances, domiciling locations, as well as domiciliary accounts without BVN and where they are domiciled.
The DMBs listed as respondents in the ex-parte suit are, Access Bank, Citi Bank, Diamond Bank, Ecobank, Fidelity Bank, First Bank and First City Monument Bank.
Others include, Guarantee Trust Bank, Heritage Bank, Keystone Bank, Skye Bank, Stanbic IBTC Bank, Standard Chartered Bank, Sterling Bank, Union Bank and United Bank for Africa.
“That the 1st-19th defendants shall disclose a) the names of the accounts as operated, b) account numbers, c) account balances d) domiciliary accounts, e) the branch/location where the accounts are domiciled of all accounts without BVN.
Emenanjo onyinyechi
2015054109

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