Court blocks INEC’s funds with CBN over N17.3bn debt

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A Federal High Court in Abuja has ordered a temporary blockage of accounts kept by the Independent National Electoral Commission ( INEC ) with the Central Bank of Nigeria (CBN).

The court also ordered the Federal Ministry of Finance to temporarily withhold funds meant for INEC, but yet to be disbursed.

Justice John Tsoho gave the orders in a ruling on a motion ex-parte for garnishee orders nisi brought by a firm, Bedding Holdings Limited, who, on January 28, 2014 got a N17.3billion judgment against INEC.

The affected accounts are: 002-01224-42021, 002-01224-41032, held by INEC in the CBN.

Justice Tsoho equally granted a garnishee order nisi attaching “all money, including, but not limited to foreign accounts attached to current accounts of the 1st judgment debtor in the possession of the garnishees/respondents (CBN and Federal Ministry of Finance) bearing the name of the 1st judgment debtor (INEC.)”

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