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Monday, 15 October 2018

Alleged N17.3b debt: Court blocks INEC’s funds with CBN

Alleged N17.3b debt: Court blocks INEC’s funds with CBN

Independent National Electoral Commission (INEC)

*Orders CBN, Finance Ministry to provide details of INEC’s financial standing

A Federal High Court in Abuja has ordered a temporary blockage of accounts kept by the Independent National Electoral Commission ( INEC ) with the Central Bank of Nigeria (CBN).

The court also ordered the Federal Ministry of Finance to temporarily withhold funds meant for INEC, but yet to be disbursed.

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Justice John Tsoho gave the orders on Tuesday in a ruling on a motion ex-parte for garnishee orders nisi brought by a firm, Bedding Holdings Limited, who, on January 28, 2014 got a N17.3billion judgment against INEC.

The affected accounts are: 002-01224-42021, 002-01224-41032, held by INEC in the CBN.

Justice Tsoho equally granted a garnishee order nisi attaching “all money, including, but not limited to foreign accounts attached to current accounts of the 1st judgment debtor in the possession of the garnishees/respondents (CBN and Federal Ministry of Finance) bearing the name of the 1st judgment debtor (INEC.)”

Details later

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