Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,537 members, 7,955,001 topics. Date: Saturday, 21 September 2024 at 02:06 PM |
Nairaland Forum / Nairaland / General / Business / Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules (24266 Views)
CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" / CBN Freeze Adebutu Kessington's Bank Accounts For "Tax Fraud" - Sahara Reporters / More Bank Accounts To Be Shut As CBN Issues Strict BVN Rules (2) (3) (4)
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Jaybee8181(m): 7:17am On Jul 25, 2021 |
It'll soon get to a point where you just tweet or post wetin govt official no like first thing they go after your bank account.... All the hypocrisy and corruption we practiced and encourage will soon catch up ... Na turn by turn |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 7:24am On Jul 25, 2021 |
justosee:The Document called "bankers order" was from...? A. IG Office B. Magistrate court C. IG Office and Magistrate Court If I write a letter to you and a courier service agent delivered it to you. Who send (write) you the letter, myself or the courier service or both of us? |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 7:30am On Jul 25, 2021 |
TGM2015: Idadurun:Read the first three words of my post you quoted,.. IF you do not have comprehension deficiencies, you will come to terms that your reply quote is what you needs most in your life. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by perryy(m): 7:42am On Jul 25, 2021 |
litigator: So, under what condition(s) can a magistrate court grant an order to freeze personal account? Can a magistrate court order the bank to release details of their customer whose account was credited in error , especially if the customer withdrew the money that was thus sent to his account? |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Nobody: 7:43am On Jul 25, 2021 |
TGM2015: By the existence of a bankers/customer relationship, the bank has a fiduciary duty to protect their customer or if you like, act in the best interest of their customer. This is the reason the banks often get sued. When a customer feels the bank did not act in his/her best interest, then there is a breach of this fiduciary duty which leads to a law suit against the banks. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Asquare84(m): 7:54am On Jul 25, 2021 |
nedekid: The effects of this ruling will favor fraudster 1 Like |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by nedekid: 7:58am On Jul 25, 2021 |
Asquare84:Haaa Unless banks have internal mechanisms through cbn to freeze accounts. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 8:02am On Jul 25, 2021 |
TGM2015: justosee: TGM2015: litigator:Look at the discussion trail and tell me how your last reply answered the question I asked you. Or is there anything missing in between the replies? |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Glink2018(m): 8:04am On Jul 25, 2021 |
Naija is truly a zoo country where someone with small authority can do anything with impunity.... The more I read, the more I get pissed up about this country.... My people, we are not living at all...we are gradually dying in the country till final death... |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Asquare84(m): 8:05am On Jul 25, 2021 |
People that are praising this judgement does not know the effect, take my case for example, I gave someone over 200 k since last year for a job. What did the artisan did, he change his shop location ran away with my money till date all effort to recover my money has failed. For what is my sin, patronize someone to do a job for me. Now the only way to recover my money is to place the suspect account under know debit alert through the court and police. What this ruling means is that arresting fraudster will becoming increasing difficult. 1 Like |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Nobody: 8:14am On Jul 25, 2021 |
perryy: Conditions Precedent There must be an existing suit that will avail the affected customers of an opportunity to defend themselves. PND is just an interim application to protect the subject matter of dispute, pending the outcome of an investigation in a criminal matter or to protect the RES, pending the determination of an interlocutory or a substantive suit. Hence, the life span of such interim order is usually short-lived, depending on how the prayers were phrased. But this is not so in the case of a banker's order. In this case, a perpetual PND is placed on an account via an interim/ exparte application without according the customer the opportunity or possibility of defending the suit. The bank, therefore, has a duty to furnish the customer with the rationale for the PND. In the case of a criminal matter wherein such notification might jeopardise the outcome of an investigation, the bank, in furtherance to its exercise of the fiduciary duty of care it owes its customers, has a duty to follow up with the investigating agency to ensure that they do the needful, and promptly vacate the PND when its no longer necessary. But this is not always the case. The bank simply places the PND and goes to sleep without averting its mind to the position of the law or the fiduciary duty it owes its customers. Now to your question. Yes! The court can order the bank to disclose such a customer's details. It's an exception to the NDA contract between the bank and the customer. But what is the point? You can simply bring an application for a sweeping order mandating all the banks within the country to use such a customer's BVN to sweep their accounts and recover your funds. Yes! The banks can help you recover your money if there is a court order to that effect. This is a hybrid of a reversal order because reversal usually works when the money is still in that account. 1 Like |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Nobody: 8:16am On Jul 25, 2021 |
TGM2015: I didn't see the trail. Simply saw your response and replied. My bad. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 8:33am On Jul 25, 2021 |
Asquare84:You can go to court to get bankers order but don't go to magistrate courts. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by smartNerd: 8:36am On Jul 25, 2021 |
I can’t change the direction of the wind, but I can adjust my sails to always reach my destination. -- Jimmy Dean. www.nairaland.com/attachments/13900059_arivercuts_jpeg_jpeg728978186a17b270e4509dd90ad61f81 |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 8:40am On Jul 25, 2021 |
litigator:Really! I am as guilty as you are. Never take notice of the moniker self, I was thinking it was the same moniker though. litigator: Now to your post, you are actually partially correct, now let me help you to complete the first paragraph. "By the existence of a bankers/customer relationship, the bank has a fiduciary duty to protect their customer or if you like, act in the best interest of their customer", in accordance with valid and current laws of the land including court orders The petitioner didn't take the bank to court because they acted against their fiduciary duties to them as a customer but that the document on which the bank acted was not valid as the institution that grant the order did not have such power under the existing and enabling laws to do so. They went to the court to vacate and void the bankers order not to the court to prove that the bank acted illegal or against their fiduciary duties. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by smartNerd: 9:09am On Jul 25, 2021 |
“Success usually comes to those who are too busy looking for it.” — Henry David Thoreau |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Nobody: 9:13am On Jul 25, 2021 |
TGM2015: Read the full judgment. You can look for it online. Or I will send you a copy of the one I referenced. It always boils down to breach of fiduciary duty of care and damages does follow at the end of the day. Send me your email address and I will send you a CTC of the judgment I referenced. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 9:36am On Jul 25, 2021 |
litigator:As I did not have the full CTC, I cannot argue further with the person that has the full CTC. My assertion was based on the little information put out on this thread. My concern was the misguided information that the headlines may lead to as most of Nigerian news readers read only the headlines and those that the content read it inline with the heading. Check out the post below Asquare84:Nairaland mods should take greater responsibility for modifying news headlines push to frontpage to align with the news content. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by jimmynauty: 10:46am On Jul 25, 2021 |
Amarisco: It will be used for someone |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by lovegeneration(m): 3:54pm On Jul 25, 2021 |
litigator: |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by Obdk: 9:39am On Jul 26, 2021 |
TGM2015:read and understand first.. What they mean is that the bankers order gotten by the IG team from the IG is illegal.. Nobody is fighting IG... The police have no right to freeze accounts without order from court that has jurisdiction.. The magistrates dont have the power to freeze accounts |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by TGM2015: 5:04pm On Jul 26, 2021 |
Obdk: Who determined the court that has jurisdiction? The Police? I think you need the first line of your post far more than myself. |
Re: Magistrates, IG Have No Powers To Freeze Bank Accounts, Court Rules by perryy(m): 9:04pm On Nov 17, 2021 |
litigator: Wow! Thank you very much. De-Law |
How To Manage Money As A Nigerian In Your 20s / How To Create A Pi Network Account, Step By Step Guide With Images. 3 / GTBank Stops Over-The-Counter Western-Union Transactions, Use Internet Banking
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 81 |