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21 Bank Accounts Frozen by Abuja Court Over Alleged Money Laundering

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A Federal High Court in Abuja has ordered the interim freezing of 21 bank accounts across multiple commercial banks over allegations of money laundering.

Presiding judge Emeka Nwite also directed the police to arrest the owners of the accounts.

The judge granted the order on Friday, January 3, following a motion ex parte marked FHC/ABJ/CS/1965/V/2024, filed by Ibrahim Mohammed, counsel for the Inspector-General of Police (IGP). The order mandates the banks to “issue details of the account package(s) and to place a post-no-debit (PND) on the accounts, disable the ATMs while allowing inflow into the said accounts” pending the conclusion of the investigation.

“I have listened to the submission of the learner counsel for the applicant and gone through the affidavit evidence,” Nwite stated. “I am of the view that the motion ex parte is meritorious. The application is hereby granted except that the period of the investigation can only last for a period of 90 days.”

The motion ex parte submitted by the IGP’s counsel argued that the accounts were under investigation for allegedly warehousing proceeds of unlawful activities or fraud.

“If there is any dealing with the accounts by way of withdrawal or transfer to another account by the person under investigation/investigator and the person that has absolute power to deal with the account, it will render nugatory any consequential order(s) which the court may make at the conclusion of this application,” Mohammed stated.

An affidavit attached to the motion, filed by Glory Ohio, a detective with the Nigeria Police Force (NPF) attached to the Force Criminal Investigation Department, outlined the details of the case. Ohio stated that the IGP had received a petition involving allegations of stealing and breach of trust, which preliminary investigations revealed to involve money laundering.

“That the complainant alleged that he needs a special purpose vehicle company to enable him to secure the contract with the Nigerian Navy, which led him to enter a joint venture agreement with the defendant, who has the company name Indetix Limited,” the affidavit reads. Ohio explained that the petitioner had been awarded a contract to supply ICT equipment and accessories, wooden canoes, outboard engines, inverter batteries, and firefighting equipment to the Nigerian Navy. Both parties reportedly opened a joint account with Zenith Bank, where they were signatories.

The affidavit stated, “That both parties concerned drafted a memorandum of understanding and a clause spelt the sum of 15% of the profit to be paid to the defendant and parties appended their signatures. The Nigerian Navy disbursed the contract sum in installments to be used in the execution of the contract.”

However, tensions arose when the complainant received a letter from the suspect proposing a revision of the initial agreement from 15% of the profit to 7.5% of the total contract sum. “The petitioner disagreed with the proposal and the new terms intended to be smuggled into the parties’ earlier agreement,” the affidavit continued.

The refusal allegedly led the suspect to send a “purported company resolution” to the bank, removing the petitioner as a signatory to the joint account, effectively making himself the sole signatory.

“That his act was motivated in furtherance of his clandestine motives to steal from the joint account, and he did steal money under the guise of the purchase of the board engine,” the affidavit alleged.

Ohio further claimed that the suspect transferred the contract sum from the joint account to various other accounts to disguise the origin of the funds.

“The purported money disbursed for the purchase of the engine board was later transferred back to the suspect via a different account from the joint account,” the detective added.

The affidavit concluded that intelligence reports indicated ongoing attempts by the suspects to withdraw or transfer funds from the accounts, emphasizing that without the court’s intervention, the investigation could be compromised. The case has been adjourned to April 3 for mention.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

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The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.

Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.

The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.

Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.

The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.

Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.

Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.


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SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

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The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.

The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.

The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.

Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.

Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.

Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.

The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.

In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.

“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.

He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.

“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”

The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.


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APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

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The National Chairman of the All Progressives Congress (APC) has approved the appointment of Mr. Abimbola Tooki as Special Adviser on Media and Communication Strategy.

APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

Mr. Abimbola Tooki

The appointment reflects the Chairman’s confidence in Mr. Tooki’s vast experience, professional pedigree, and proven capacity to deploy strategic communication in strengthening party cohesion, public engagement, and effective message delivery at both national and international levels.

Mr. Tooki is a celebrated journalist, columnist, and media strategist with deep expertise in governance reporting, crisis communication, information management, and team leadership.

He is widely regarded for his ability to bring institutions closer to the people through the effective use of conventional and digital media platforms.

His career demonstrates a consistent track record of innovation, results-oriented leadership, and excellence in managing internal and external communications.

A versatile Information and Communications Technology (ICT) editor for many years, Mr. Tooki managed and developed influential ICT and business sections in leading newspapers, contributing significantly to public understanding of technology and economic issues.

He also pioneered major newsroom initiatives, including the establishment of specialised ICT publications, and is respected for his sharp analytical skills and solution-driven approach in fast-paced environments.

His professional journey spans several reputable media organisations, culminating in his role as Editor of BusinessWorld Newspaper, where he oversees editorial direction, production, administration, and corporate management.

He previously rose through the ranks at Financial Standard, earning rapid promotions due to exceptional performance, intellectual depth, and dedication to duty.

Mr. Tooki is also a familiar face and respected voice in broadcast media, serving over the years as a guest analyst on platforms such as Channels Television and other national stations, where he analyses major headlines, public policy, and issues of national importance.

Academically, he holds an MBA from Obafemi Awolowo University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, and a Bachelor’s degree in Language Arts from the University of Ilorin.

In his new role, Mr. Tooki is expected to provide strategic direction for the Chairman’s media engagement, strengthen the APC’s communication architecture, manage reputation and messaging, and enhance the party’s interface with stakeholders, the press, and the Nigerian public.

The APC congratulates Mr. Abimbola Tooki on his appointment and wishes him success as he brings his wealth of experience, energy, and professionalism to bear in support of the Chairman and the party at large


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