On August 30, 2024, the Federal High Court in Abuja issued an order to freeze 13 bank accounts in United Bank for Africa(UBA), First Bank of Nigeria, Guaranty Trust Bank(GTBank), Union Bank, among others.
According to the Department of State Security (DSS) via its legal Counsel, Yunus Umar, the accounts were said to be link to one Henry Okocha, suspected of terrorism.
This order followed an ex-parte application by the Department of State Services (DSS), through its counsel, Yunus Umar. The court mandated that the accounts should remain frozen for 60 days to allow the DSS to conduct forensic investigations into the alleged terrorist activities.
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The accounts, held across seven banks, including United Bank for Africa, Guaranty Trust Bank, Union Bank of Nigeria, First Bank of Nigeria, Providus Bank, Palmpay Limited, and Resolut Limited, were flagged by the DSS due to Okocha’s receipt of millions of naira, suspected to be proceeds of terrorism. Okocha was arrested and is currently in DSS custody as the investigation continues.
The DSS argued that freezing the accounts was essential to prevent the funds from being used for illicit activities. Additionally, according to the organization, the measure would aid in identifying and prosecuting those found guilty of involvement in terrorism financing. The court, led by Justice Peter Lifu, granted the order on grounds of national security but limited the freeze to 60 days, rejecting a 90-day extension request. The move was made under the Terrorism Prevention and Prohibition Act 2022.
It would be recalled that this action is coming in the wake of a similar recent court order freezing bank accounts linked to individuals and companies allegedly associated with the #EndBadGovernance protests that occurred between August 1 and August 10, 2024.
Source: The New Diplomat
