BVN court ruling: Bank heads to meet, Nigerians in diaspora kick

Company secretaries and legal teams of 19 Deposit Money Banks in the country will on Tuesday hold an emergency meeting to fashion out modalities to comply with a court order directing commercial banks to freeze bank accounts without the Bank Verification Number and publish names and details of the customers.

The Federal High Court in Abuja had ordered the Central Bank of Nigeria and the commercial banks to disclose all accounts in their custody and the balances in such accounts.

The court ordered the banks to disclose the details of all such accounts, their owners and their proceeds in their affidavit of compliance deposed to by their chief compliance officers.

It also made an interim order directing the banks to freeze all the said accounts by stopping “all outward payments, operations or transactions” pending the hearing of…

 

Credits/Sources:www.punchng.com