BVN: Claim Ownership now or forfeit your Accounts to Federal Government- Court
It is no longer speculation that the Federal Government of Nigeria has instituted an action in court for the forfeiture of any balance in any bank account without a Bank Veriication No (BVN).
An interim order of forfeiture was granted by Justice Nnamdi O. Dimgba of the Federal High Court, Abuja on the 17th October, 2017 for the banks to show cause within 14days why the balances in such accounts should not be forfeited forthwit.
Accordingly;
“THAT AN INTERIM ORDER is hereby made granting leave to the applicants or any officer authorised by them to advertise the accounts without BVN disclosed by the banks in a widely circulated national newspaper as notice to any person or body corporate or financial institution who may have interest in any of the said accounts to claim ownership of same within 14days of publication of the Order and show cause why the proceeds in the account should not be permanently forfeited to the federal Government.”
This by implication means that banks only permit deposits into such accounts, however no withdrawal is allowed. And in the event that the Federal Government succeeds, such monies is forfeited permanently.
Below is a copy of the interim order of the court
[embeddoc url=”http://www.barristerNG.com/wp-content/uploads/2017/10/HIGH-COURT.pdf” download=”all”]
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