Ten Things Wrong With The Order To Forfeit Sums In Account Not Linked To BVN.

Nigerians have continued to react with outrage to a court order obtained by the Federal Government to seize funds in accounts with no BVN/incomplete KYC documentation. The court order, which was obtained last week mandates the commercial banks in the country to freeze such accounts and make the balances known to the government. The banks are also expected to give details of revenues made from such funds.
Here are 10 reasons why the order may be faulty:
-BVN is not a prerequisite to opening and operating a bank account.
-There is no statute providing that money in account not linked to BVN should be forfeited to the federal government.
-The FG not being the owner of the money has no locus to institute the action.
-The money in those accounts does not belong to the CBN or the commercial banks.
-The banks under banking laws are debtors to depositors and not to the FG.
-The owners of the accounts are necessary parties and not joined in the suit.
-The owners of those accounts are denied the right to fair hearing.
-Orders of court must be specific and definite.
-Courts cannot make orders to bind parties that are not before it.
-The owners of the accounts have been found guilty without trial.