Nigerian Court Says Central Bank Can Block Protest Accounts
- Decision allows regulator to freeze 20 accounts at six banks
- Some accounts were restricted before ruling was issued
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Nigeria’s central bank obtained a court order allowing it to freeze 20 bank accounts that were active in recent protests against police brutality.
The decision by a federal court in Abuja on Nov. 4 permits the regulator to direct six commercial banks to restrict the accounts for 90 days “pending the outcome” of an investigation under way at the Central Bank of Nigeria, according to the ruling. Some of the accounts were blocked before the bank sought the legal authorization on Oct. 20.