The Federal High Court in Abuja has been asked to restrain and stop
President Muhammadu Buhari and the Federal Government from borrowing an
estimated N895bn of Nigerians’ money in the form of their unclaimed dividends
and balances in dormant accounts.
Socio-Economic Rights and Accountability Project filed the lawsuit after the recent move by the Federal Government to take over and borrow unclaimed dividends and dormant account balances owned by Nigerians in any bank in the country. But the same legislation explicitly excludes dormant official bank accounts by all branches of government and their agencies.
In the suit number FHC/ABJ/CS/31/2021 filed by its lawyers Kolawole Oluwadare and Ms Adelanke Aremo, last Friday, SERAP is seeking “an order of perpetual injunction restraining and stopping President Buhari from demanding, taking over, borrowing, and collecting Nigerians’ money in the form of their unclaimed dividends and funds in dormant accounts or transferring and moving the money into a trust fund known as ‘Unclaimed Funds Trust Fund” |||READ MORE\
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