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Banks Directed to re-open accounts of former first lady

The Senate Committee investigating the petitions against the freezing of the accounts of the former first lady, Mrs. Patience Jonathan has directed that they should be re-opened.
Senate’s Ethics, Privileges and Public Petitions committee after scrutinizing the Management of four different banks where Mrs. Jonathan had accounts directed that those accounts not encumbered  by any legal process be re-opened.
Chairman of the committee, Senator Sam Anyanwu who also presided over the probe on Wednesday, observed that some of the accounts were frozen based on some administrative lapses.
One of the accounts which is with the Stanbic IBTC Bank, according to the committee had not breached any known law or due process.
The account with the Zenith Bank according to the committee “must be re-opened because the court order which directed that it should be frozen had been vacated by another court order”.
The committee members were particularly displeased with what they called “arbitrary manner” in which the Economic and Financial Crimes Commission (EFCC) used the banks to close the accounts without complying with due process of law.
After listening to the committee, bank executives present informed the committee that the court order vacating the earlier ones relied upon by the EFCC to close the accounts was not made available to them.
Officials of the banks present, promised to re-open those accounts having been properly informed about the vacation order.
The committee expressed shock that the banks could rely on ordinary letter by the EFCC anticipating a favourable ruling to free Customers’ account.


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