Forex: CBN Froze Our Bank Accounts Since 2020 – BDC Owners, Others Ask Court To Vacate Order

The Federal High Court sitting in Abuja has adjourned to October 21 for hearing of an application seeking vacation of a court order freezing the bank accounts of some Bureau de change operators and others.

The case is between the Governor of Central Bank of Nigeria and 3D Scanners Bureau De Change Ltd and 23 Others.

The CBN had on September 2020 obtained the order against them.

The grounds were that they breached certain Forex regulations.

When the matter was called up on Tuesday, Aye Lawal Garba, counsel for 6th to 21st Defendants said he needed time to respond to CBN’s counter affidavit against their prayers for vacation of the freezing order.

“We have filed an application dated 30 March to vacate an interim order which was made against the 6th and 21st defendants.

“However, my lord, we were served with very copious counter affidavit with several annextures by the CBN.

“We will need time to respond to the counter affidavit, in the circumstances, we will be asking for an adjournment,” he said.

Bode Ilori, who represented the 7th defendant applicant, made the same prayer.

But Matthew Echo, counsel to the plaintiff, replied that even though the financial regulator wants to extend the freezing order, it was ready to first react to the applicants’ processes.

“We have an exparte to extend the time of the order but in the interest of Justice, we are not oppose to the calls for another date for hearing,” he said.

Justice Ahmed Mohammed ruled that “as agreed by counsels, this matter is adjourned to October 21 for hearing on the application seeking to vacate the order of this court.”