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Court freezes Opay, PalmPay, FairMoney accounts over N139.6m unlawful transfer

Published

2 years ago

August 14, 2024

Court freezes Opay, PalmPay, FairMoney accounts over N139.6m unlawful transfer

The Federal High Court in Abuja on Monday issued an interim freezing order against several accounts in Fair Money Microfinance Bank Ltd, Palm Pay Limited, and Opay Digital Services Limited, directing the organizations to reverse N139,630,000 credited to some of their customers and account holders as a result of a “system glitch” at TAJ Bank Ltd.

The order was made following a motion ex parte filed by Taj Bank Ltd and six of its customers on July 23, 2024, in suit number FHC/ABJ/CS/1018/2024 against the three organizations.

Nigerian Interbank Settlement System Plc was designated as the fourth respondent.

In their originating summons and motion ex parte, TAJ Bank’s legal team urged the court to hold that based on the Central Bank of Nigeria’s Regulatory Framework for Banking Verification (BVN) Operations and Watchlist for the Nigerian Banking Industry, October 2017, any money that illegally enters the accounts linked to the Bank Verification Numbers (BVN) of any institution’s account holders through suspicious debits and credits should be immediately returned to where the money was originally domiciled.

In his affidavit in support, Unit Head of the Investigation and Fraud Management Unit, Taj Bank Limited, Muhideen Olujinmi, stated that one of the goals of the aforementioned Central Bank of Nigeria Regulations is to, among other things, ensure the effectiveness of Know Your Customer (KYC) principles and the promotion of a reliable payment system, as well as the reduction of fraud incidences and the safeguarding of depositors’ funds to boost public confidence in the banking industry.

According to him, following a system glitch on Taj Bank’s server, certain individuals illegally initiated multiple successful debit transactions and withdrew and transferred funds from the 2nd to 7th Plaintiffs’ accounts into several accounts held by the 1st, 2nd, and 3rd Respondents.

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He argued that the cash had been unlawfully transferred into multiple accounts held by the first, second, and third respondents.

He stated further, “That certain individuals took advantage of this glitch to carry out several transactions exposing TAJ Bank and its customers to a humongous liability to the tune of N139,630,000.00 received in several accounts domiciled with FairMoney, Opay, and PalmPay.

“That upon realizing this glitch, an immediate complaint was made to the 1st to 4th Respondents, and the said Respondents placed a post-no-debit instruction (debit freeze) on the subject accounts to avoid further dissipation of the Plaintiffs’ money.”

He explained that if all of the accounts listed in its exhibits belonging to the perpetrators of the alleged fraud are not urgently blocked or placed on no debit restriction and the amount unlawfully obtained is reversed, they will continue on a spending spree and further dissipation of funds belonging to TAJ Bank customers.

He noted that, in accordance with relevant financial legislation, financial platforms have the authority to block, freeze, and impose a post-no-debit on all of the account numbers specified in order to protect and secure depositors’ funds.

“The Plaintiffs have been greatly affected by the resultant effect of the system glitch, and unless this application is granted, the Plaintiffs will be further subjected to untoward hardship and dire financial loss,” he added.

TAJ Bank subsequently asked the court to order FairMoney, Opay, and PalmPay to reverse and refund the sum of N139,630,000.00 wrongfully debited from six of its customers’ accounts due to its system glitch, adding that they are wrongful and illicit debits transferred into the 1st-3rd Defendants’ customers’ accounts.

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In its motion ex parte, TAJ Bank’s legal team sought an order of interim mareva injunction (freezing order) mandating the 1st, 2nd, and 3rd Respondents to comply with the CBN’s guidelines by restricting and reversing the sum illegally received and transferred from the account of its customers to the accounts of the identified beneficiaries respectively (following the system glitch in the 1st Plaintiff/Applicant’s server), pending the hearing and determination of the substantive suit.

On July 26, 2024, Justice Peter Lifu granted TAJ Bank’s interim request, indicating that the freezing order would remain in effect while the application was heard and decided.

As requested by TAJ, the judge further ordered the 1st, 2nd, and 3rd Respondents to disclose under oath to the Court the sums in the credit of the specified account holders of their institution within 7 days of the order’s service.

The court also ordered TAJ Bank to enter into a fresh undertaking to protect or insure FairMoney, Opay, and PalmPay against any loss in the event of any emerging facts as to the inappropriateness of the interim orders granted.

The court then adjourned to August 12, 2024, for a hearing.

FairMoney, Opay, and PalmPay did not have legal representation in court at the hearing on Monday.

TAJ Bank’s lawyer, Rilwan Idris, told the judge that in compliance with his order, his clients have filed an affidavit to insure the respondents from any damage.

That affidavit was filed on July 29, 2024, and I can confirm that all of the respondents have received both the originating processes and the orders,” he said.

Court freezes Opay, PalmPay, FairMoney accounts over N139.6m unlawful transfer

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Troops Arrest Suspected Gunrunner, Recover Six Machine Guns in Taraba Operation

Published

2 hours ago

February 15, 2026

Trends Admin

Troops Arrest Suspected Gunrunner, Recover Six Machine Guns in Taraba Operation

Troops of the 6 Brigade, Nigerian Army, operating under **Sector 3 of Operation Whirl Stroke, have arrested a suspected gunrunner and recovered a cache of weapons and related items during an intelligence‑led operation in Ibi Local Government Area, Taraba State.

The operation, which took place on 12 February 2026, was launched after credible intelligence alerted soldiers deployed at the Forward Operating Base (FOB), Wukari, to the presence of a suspected arms trafficker in the area. Following swift mobilisation, the troops intercepted and apprehended the suspect identified as Mr. Abubakar Ibrahim, a 48‑year‑old native of Barkin Ladi Local Government Area in Plateau State.

A statement issued on Saturday by Lieutenant Umar Muhammad, Acting Assistant Director of Army Public Relations for 6 Brigade, confirmed the arrest and the recovery of several items during a thorough search conducted at the scene.

Recovered items included:

6 x PKT machine guns
2 x 7.62mm special ammunition
Cash sum of One Hundred and Seventy Thousand Naira (₦170,000)
1 x Peugeot 504 vehicle
1 x Q Seven mobile phone
7 x bottles and wraps of perfume
2 x small containers of Vaseline

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The suspect remains in custody and is currently undergoing further investigations by military intelligence and law enforcement personnel.

The Army emphasised that the interception denied criminal elements the opportunity to proliferate illegal weapons within the state, contributing to broader efforts to combat insecurity and enhance public safety across Taraba and neighbouring states. Illegal arms proliferation has been a major driver of violence, including kidnapping, banditry and communal clashes, particularly in Nigeria’s Middle Belt region.

The Commander of 6 Brigade Nigerian Army/Sector 3 OPWS, Brigadier General Chukwuemeka Michael Akaliro, commended the vigilance, professionalism and swift response of the troops involved. He urged soldiers to sustain the operational tempo to ensure that the Brigade achieves the mandate assigned by the Chief of Army Staff (COAS).

He also appreciated the cooperation of local residents, noting that timely and credible intelligence from community members played a significant role in the success of the operation.

Brigadier General Akaliro called on members of the public to remain security conscious and to continue assisting security agencies with actionable information, emphasising that such cooperation has proven invaluable in cracking down on criminal networks.

“The Brigade remains resolute in its mandate to protect lives and property and to restore lasting peace and stability across Taraba State,” he stated, reaffirming the Army’s commitment to safeguarding civilians and curbing the flow of illegal weapons in the region.

Troops Arrest Suspected Gunrunner, Recover Six Machine Guns in Taraba Operation

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Argungu Festival 2026 Highlights Peace, Stability, Economic Growth — Tinubu

Published

2 hours ago

February 15, 2026

Trends Admin

President Bola Ahmed Tinubu at Argungu Festival 2026

Argungu Festival 2026 Highlights Peace, Stability, Economic Growth — Tinubu

President Bola Ahmed Tinubu has hailed the 61st Argungu International Fishing and Cultural Festival as a milestone in Nigeria’s return to stability and normalcy, emphasizing its role in promoting tourism, agriculture, food security, and rural development in Kebbi State and the broader northwest region. Speaking at the grand finale of the four-day festival, Tinubu congratulated the Kebbi State Government for hosting the historic event, which drew over 50,000 fishermen and thousands of visitors from Nigeria and neighbouring countries. He described the festival as a “powerful symbol of unity, resilience and peaceful coexistence.”

The President lauded the robust security arrangements, noting that cultural events thrive only in a safe environment. He attributed the return of relative peace to sustained investments in security, intelligence gathering, and community engagement, promising that the fight against banditry and insurgency would continue until fully defeated. “Farmers, fishermen, traders, and families must be able to live and work without fear,” Tinubu said, stressing the Federal Government’s commitment to supporting agriculture and rural livelihoods, highlighting Kebbi State as a key contributor to Nigeria’s food security agenda.

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Tinubu also underscored the festival’s unifying power, noting that it brings together people of different nations, backgrounds, and beliefs in the spirit of friendship and healthy competition, while projecting Nigeria’s rich cultural heritage to the world. The festival featured traditional fishing competition in the Matan Fada River, cultural performances, music and dance, canoe races, and wrestling competitions, giving participants and visitors a full showcase of the region’s culture. The Emir of Argungu, Alhaji Sama’ila Muhammad Mera, described the festival as a symbol of courage, reconciliation, peace, and friendship, linking it to President Tinubu’s Renewed Hope agenda.

At the competition’s climax, Abubakar Usman from Maiyama Local Government Area emerged the overall champion with a record 59‑kilogram catch, earning him N1 million and two vehicles. Runner-up Abdullahi Garba from Argungu caught a 40kg fish, while two contestants from Jigawa and Kogi states shared third place with 33kg catches each, also receiving prizes. All four winning fish were presented to President Tinubu as ceremonial souvenirs.

Before attending the festival, Tinubu inaugurated key infrastructure projects in Birnin Kebbi, including the Bola Ahmed Tinubu Secretariat Complex, a modern motor park, a three-lane dual carriageway, the Kauran Gwandu College of Nursing and Midwifery Sciences, and the newly dualised Old Argungu By-Pass Road. Governor Nasir Idris welcomed the President’s visit and reiterated his government’s resolve to sustain the festival as a platform for cultural preservation, tourism development, and economic empowerment. He highlighted the state government’s achievements, including road expansions, urban development, rehabilitation of 16 general hospitals and over 120 primary healthcare centres, and the distribution of fertilizers, improved seedlings, agrochemicals, and farm implements to local farmers.

The festival’s return after a multi-year hiatus due to insecurity is widely regarded as a turning point in the northwest’s socio-economic recovery. Local officials and stakeholders noted that the event has boosted trade, tourism, and cultural pride, attracting visitors and business activity across Argungu and surrounding areas, reflecting a renewed sense of peace, stability, and opportunity in Kebbi State.

Argungu Festival 2026 Highlights Peace, Stability, Economic Growth — Tinubu

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US Military Boosts Support for Nigeria’s Fight Against Insurgency With Ammunition, Troop

Published

2 hours ago

February 15, 2026

Trends Admin

US Military Boosts Support for Nigeria’s Fight Against Insurgency With Ammunition, Troop

The United States military has stepped up support for Nigeria’s counter‑insurgency operations with ammunition deliveries to military bases in Borno State and other northeastern regions, deepening cooperation in the fight against armed groups such as Boko Haram and the Islamic State West Africa Province (ISWAP). The development follows increased security collaboration between Nigeria and the United States amid growing concern over persistent attacks that have destabilised communities and challenged Nigerian forces.

Aerial Deliveries and Logistics Support

Between Thursday and Friday, US military aircraft, including C‑17 and C‑130J transport planes, landed at strategic airbases in Nigeria, delivering ammunition and logistical equipment intended to strengthen the operational capabilities of Nigerian troops deployed in major insurgency‑affected areas. Senior officers at Nigeria’s Defence Headquarters confirmed that the shipments stem from recent Nigeria‑US bilateral security discussions, and are meant to reinforce ongoing operations rather than establish foreign command over Nigerian forces.

“Following Nigeria‑US bilateral talks on security, the American government will not only deploy soldiers but also provide necessary logistics, including ammunition, to fight the insurgents,” a senior military source said, underlining the collaborative nature of the support.

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One of the aircraft was sighted at Maiduguri Air Base in Borno State, a key hub for operations against insurgent cells in the northeast. Satellite imagery and reports suggest that at least three US aircraft were involved in the resupply missions, with heavy cargo offloaded for Nigerian units. Additional flights reportedly landed at Kaduna International Airport, fuelling speculation that the facility could serve as a logistical or training hub for US personnel working with the Nigerian military.

US Troop Deployment and Advisory Teams

In addition to ammunition deliveries, the United States has already deployed a contingent of roughly 100 military personnel to Nigeria. This advance team, comprised of intelligence analysts, advisers and trainers, is part of a broader initiative to enhance coordination, tactical expertise, and battlefield intelligence between the two forces. More personnel and equipment are expected to arrive in the coming weeks.

US forces in Nigeria are not engaged in direct combat; instead, they are focused on training and supporting Nigerian troops to plan and execute more effective operations against insurgent threats. Nigeria remains in operational command of all missions, with the US role emphasising support and capacity building.

Timeline of US‑Nigeria Security Cooperation

The current ammunition deliveries and troop movements form part of an expanding security partnership that has evolved over the past year:

Late 2025: US officials warned that greater action would be considered if attacks against civilians, including Christians, continued — highlighting rising concern over targeted violence in parts of Nigeria.
Christmas Day 2025: The United States reportedly carried out precision airstrikes on Islamic State fighters in Sokoto State, indicating a willingness to take direct action against extremist elements.
Early 2026: Nigeria was designated a Country of Particular Concern by the US over deteriorating security conditions, prompting intensified diplomatic and military engagement to address regional instability.
February 2026: The first contingent of US support personnel arrived in Nigeria, beginning advisory and training operations ahead of more comprehensive logistical cooperation.

Strategic Implications and Local Responses

The Nigerian government, while underscoring its sovereignty, welcomes the additional support as crucial given the ongoing challenges posed by insurgent attacks, suicide bombings, and cross‑border raids that have displaced millions and claimed thousands of lives over more than a decade. Security analysts say the US presence reflects shared concerns about regional stability and a recognition that enhanced tactical support could help improve outcomes for Nigerian forces on the ground.

Not all reactions have been uniform; some civil society and nationalistic voices stress the need for clear guidelines governing foreign military presence and emphasise the importance of reinforcing Nigerian-led strategies, including community‑based intelligence and local security initiatives.

Officials from both Washington and Abuja maintain that the cooperation is intended to be complementary, with Nigerian command preserved at every level of planning and execution.