Funds in bank accounts not linked to any BVN are in danger of forfeiture.
This is following the granting of the request by the Attorney General of the Federation, Abubakar Malami for a temporary forfeiture of funds in such accounts by a Federal High Court in Abuja.
In addition, bank accounts without sufficient Know-Your-Customer (KYC) details are also to be forfeited.
Justice Nnamdi Dimgba of the Federal High Court in Abuja in granting the request court ordered all the 19 deposit money banks, DMBs, operating in the country to release to Nigerian government names of accounts not yet connected to BVN; account numbers; their outstanding balances; domiciling locations; and domiciliary accounts without BVN and where they are domiciled.
The court also asked all Nigerian deposit banks to publish the details of all such bank accounts without BVN or KYC details in the national dailies with a 14-day notice for the individuals who own such affected accounts to give reasons why their funds should not be forfeit to the federal government.
