Court strikes out N400m account freezing suit against CBN

sitting in Abuja has dismissed a suit filed by one Mr Babatunde Victor Segun, who claimed that his bank account was unlawfully frozen by the Central Bank of Nigeria and United Bank of Africa .

The Applicant had approached the court in 2021 in a suit marked FHC/ABJ/CS/1339/2021, claiming that the CBN and UBA blocked his UBA account from October 15, 2020, till November 4, 2020, without due process.He asked the court to award him N400 million as compensation for the alleged unlawful restriction of the account, and cost of his action.

But countering Falana, Lead Counsel to CBN, Prof. Fabian Ajogwu of Kenna Partners leading Abdulfatai Oyedele, Esq. of Vantage Attorneys LP, submitted that the CBN does not provide banking services to individuals and does not have any banker-customer relationship with Mr. Segun.Ajogwu further submitted that the Applicant had failed to adduce any evidence that his human rights were infringed upon by the CBN.

The judge also upheld Ajogwu’s submission that the Applicant failed to provide evidence in the action to prove that his fundamental human rights were violated by the CBN and UBA when his UBA bank account was frozen.

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