Dollar Would Have Exchanged Above N500 If Accounts Of Protesters Were Not Frozen–Chief Judge

Chief Judge of the Federal High Court, Justice John Tsoho, has given reasons why the court froze the bank accounts of #EndSARS protesters.

He disclosed this during a special court session the High Court held to mark the commencement of its 2020/2021 legal year.


A Federal High Court in Abuja had frozen bank accounts belonging to individuals who promoted the #EndSARS protests.

According to Vanguard, the chief judge said the names attached to the bank accounts were not those of individuals but of corporate organisations the Central Bank of Nigeria (CBN) accused of sabotaging the country’s economy.

He said, “Three months before the protest, the Central Bank of Nigeria (CBN) kept bringing applications, almost in their hundreds, based on what they call deliberate resolve to ruin the economy through money laundering,” he said.

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Court Grants CBN’s Request To Freeze Bank Accounts Of #EndSARS Protesters


“But the names were mostly of corporate bodies. So if it was the #EndSars people who started that arrangement undercover, then it is unfortunate. So maybe in the course of issuing those orders, they were uncovered.

“I’m sorry, I may have breached security, but I wouldn’t know because it is very irritating for people to fail to verify news and just come up with damaging allegations.

“From what I gathered, if that step was not taken, the Nigerian economy could have collapsed at that point in time.

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CBN Begs Court Not To Unfreeze #EndSARS Campaigners’ Accounts


“The dollar would have already exchanged for far above N500. So it was that discovery that prompted the CBN to bring those applications and the orders granted temporarily saved the situation.”

 

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