Sun. May 9th, 2021

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ENDSARS: Court Vindicates CBN Over Frozen Accounts Allegations

The Center For Transparency and Social Justice (CETSJ) has said the position of the Federal High Court that the Central Bank of Nigeria (CBN) initiated the process of freezing some suspected accounts of money laundery and terrorism activities three months prior to the ENDSARS protest has vindicated the apex bank.

The group in a statement in Abuja on Monday, signed by Chief Terna Atule said it adopted the the position of Justice John Tsoho during the commencement of the 2020/2021 legal year in Abuja.

According to the statement, the body of Senior Advocates and the Nigerian Bar Association had cast aspersions on the CBN as well as the court referencing the issue of frozen account as an indices during the occasion.

“However, we are proud of the boldness of Justice John Tsoho who clarified and maintained that the CBN had instituted legal processes to freeze those accounts three months before the ENDSARS protests and wondered why the apex bank name would be dragged in what he described as a desperate measure to save the economy against the dollar.

“We totally adopt this position, having come from the horses mouth, it is now clear that the CBN had no premonition that ENDSARS protests would occur in three months so couldn’t have targeted any individual or organization. What the CBN has always done to our knowledge is to be proactive to secure the economy against any eventuality.

“We also want to amplify that if the affected organizations who were hitherto suspected to be involved in money laundering and terrorism would later be caught up in ENDSARS protests three months later, then it calls for concern.

“The CBN deserves accolades for their foresight in defense of the Nigerian economy, the group noted.

It further averred that the court is not just the last resort of the common man but of all corporate entities who believe in the rule of law.

It is unfair and unfortunate to vilify both the judiciary and the apex bank in pursuit of political and personal endeavors , the group insisted.

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