Court freezes Benue accounts over ‘N333m loan’

A Federal High Court in Abuja on Wednesday made an interim order freezing bank accounts of the Benue State Government over its alleged involvement in securing a “N333 million loan” in 2008.

Presiding Judge Inyang Ekwo gave the order following an ex-parte motion brought by the Asset Management Corporation of Nigeria (AMCON).

He also ordered that the bank accounts of HPPS Multilink Services Ltd, a firm, be frozen pending the hearing and the determination of the substantive suit.

AMCON is the claimant; while the company and the state government are first and second respondents.

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In the affidavits, AMCON described the loan as a toxic loan of eligible bank assets transferred to it by law to recover.

“That the loan was for the agreed period of 24 months at the interest of 19 per cent per annum.”

The affected bank accounts of both respondents are domiciled in Access Bank Plc, Citibank Nigeria Limited, Eco Bank Nigeria Plc, Fidelity Bank Plc, First Bank Nigeria Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc, Heritage Bank Plc, Keystone Bank Limited.

Others are Polaris Bank Limited, Stanbic IBTC Plc, Standard Chartered Bank Nigeria Limited, Sterling Bank Plc, Suntrust Bank Nigeria Limited, Union Bank of Nigeria Plc, United Bank for Africa Plc, Unity Bank Nigeria Plc, Wema Bank Plc and Zenith Bank Plc.

Daily Trust