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As you step into the weekend, today is a good day to understand Blaid Construction Ltd v. Access Bank, and why Access Bank has no power to "freeze" an account without a court order.
Let us explain. You can read the article here: https://bit.ly/2JZjB3Y
Let us explain. You can read the article here: https://bit.ly/2JZjB3Y
In 2017, the Independent Corrupt Practices Commission (ICPC) issued a post-no-debit order on a particular company by name Blaid Construction Limited, to be enforced by Access Bank.
Similarly, the EFCC also issued PND on the same company.
Similarly, the EFCC also issued PND on the same company.
A post-no-debit order is an order that mandates that prevents all financial transactions from taking place on an account, either via ATMs, cheques, credit cards or any means whatsoever.
Technically, many regularity bodies in Nigeria are empowered to "freeze" a person or company's account where they deem it necessary.
Section 45 (1) of the ICPC Act, for instance, empowers the Chairman of the Commission to seize a person's property in a bank if he seems it fit.
Section 45 (1) of the ICPC Act, for instance, empowers the Chairman of the Commission to seize a person's property in a bank if he seems it fit.
However, in this particular case, there were two post-no-debit orders, as earlier stated.
Worse, the post-no-debit orders were supposed to last for three months; from July 2016 to September 2016, but Access Bank kept the accounts 'frozen' for even more than three months.
Worse, the post-no-debit orders were supposed to last for three months; from July 2016 to September 2016, but Access Bank kept the accounts 'frozen' for even more than three months.
Blaid Construction Ltd decided to take Access Bank to the Federal High Court.
Blaid Construction argued that Access Bank's continued freezing of its account was illegal and unlawful, and Access Bank argued that it was only complying with an ICPC order.
Blaid Construction argued that Access Bank's continued freezing of its account was illegal and unlawful, and Access Bank argued that it was only complying with an ICPC order.
After hearing both sides, the Court decided that:
1/ ICPC does not have the power to issue a order PND on bank accounts without first obtaining an order of the court.
Among other things, the court also stated that Access Bank's unilateral freezing of the account is unlawful.
1/ ICPC does not have the power to issue a order PND on bank accounts without first obtaining an order of the court.
Among other things, the court also stated that Access Bank's unilateral freezing of the account is unlawful.
What is happening in this present case of CBN's freezing of 20 #EndSARS 
protesters accounts?
protesters accounts?
In a document obtained by a news website, @GazetteNGR, Access Bank was seen communicating with Gatefield Limited, one of the companies affected by CBN's freeze order.
This communication took place on October 26, whereas the court order to freeze the accounts came on Nov 4.
This communication took place on October 26, whereas the court order to freeze the accounts came on Nov 4.
Access Bank has also tendered an apology of sorts, stating that it is "compelled" to act on the orders of the regulatory body that oversees it, in this case the CBN. https://twitter.com/myaccessbank/status/1327189369200009217?s=19
Unfortunately, this situation implies that Access Bank, again, effected the post-no-debit order before and without a court order.
Meanwhile, @GatefieldImpact has since sued Access Bank for unlawful and illegal freezing of their accounts. https://twitter.com/KathleenNdongmo/status/1324079919299764224?s=19
Meanwhile, @GatefieldImpact has since sued Access Bank for unlawful and illegal freezing of their accounts. https://twitter.com/KathleenNdongmo/status/1324079919299764224?s=19