CBN Accuses #EndSARS Protesters Of Terrorism


The Central Bank of Nigeria, CBN was able to freeze the accounts of 20 #EndSARS promoters after convincing an Abuja Federal High Court that the funds in their accounts might have been linked to terrorist activities.

This is according to a written address in support of an ex-parte motion filed by the apex bank.

The CBN had in October frozen 20 bank accounts of individuals over their roles in the #EndSARS protests and thereafter approached the court to seek an ex-parte order to freeze the accounts.

In the case with suit number FHC/ABJ/CS/1384/2020, filed before Justice A. R. Mohammed, the Central Bank, however, failed to inform the court that the 20 accounts were owned by persons involved in the #EndSARS protests, but mentioned that the funds might have emanated from terrorist activities.

The written address read in part, “My lord, the nature of the transactions undertaken through the defendants’ accounts are of suspected terrorism financing in contravention of Section 13(1)(a)and(b) of the Terrorism (Prevention)(Amendment) Act, 2013 and Regulation 31(2)(a)and (3)(b) of the Central Bank of Nigeria Anti-Money Laundering/Combating the Financing of Terrorism Regulations, 2013.”

In a supporting affidavit deposed to by one Aondowase Jacob on behalf of the CBN, it was stated that the Head of the Economic Intelligence Unit of the Governor’s Department, CBN, Joseph Omayuku, had conducted an investigation on the accounts of the defendants and other individuals and entities held with certain banks in Nigeria.

According to the affidavit, the investigation showed that the owners of the accounts may have been involved in terrorist activities.

It added, “There is a grave allegation that the defendants are involved in suspected terrorism financing via their bank accounts in contravention of the provisions of extant laws and regulations. The aforesaid transactions undertaken by the defendants, using their bank accounts, can cause significant economic and security harm to the public and the Federal Republic of Nigeria if left unchecked.

“The applicant (CBN governor) is thus desirous to have the court empower him to direct the freezing of the 20 accounts listed on the annexure to this application and all other bank accounts held by the defendants.

“A freezing order of this honourable court in respect of the defendants’ accounts would also enable the investigation of the activities of the defendants to a logical conclusion with a view to reporting same to the Nigerian Financial Intelligence Unit.”

The apex bank explained the order needed to be granted to enable it ensure that the money remained intact, while investigations were ongoing.

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