Nigeria Court freezes 45 accounts of firms for rice smuggling


The Federal High Court in Abuja has ordered the interim freezing of 45 bank accounts belonging to three companies for alleged smuggling of rice into the country.

Ruling on the application yesterday, Justice Ahmed Mohammed directed  10 banks housing the affected accounts to stop transactions on the accounts for 45 days to allow for the inquiry and investigation of the companies.

But the judge added that the freezing order for 45 days was subject to renewal upon an application by the Central Bank of Nigeria which filed the initial exparte motion, should the applicant not be able to conclude its investigations within the first 45 days.

The companies with the 45 bank accounts in 10 banks are Sun Sam A1 International Limited, Sun Sam International Limited and Sunchrist O. Trans Nigeria Limited.

The banks are First Bank Nigeria PLC, Sterling Bank, Access Bank, First City Monument Bank, Polaris Bank, Stanbic IBTC Bank, Union Bank PLC, United Bank for Africa, Zenith Bank PLC, and Eco Bank Nigeria.

Justice Mohammed adjourned proceedings to December 12.

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