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Court freezes Opay, PalmPay, FairMoney accounts over N139.6m unlawful transfer
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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Borno: Troops kill 26 Boko Haram fighters, destroy 10 motorcycles in Kukawa
Borno: Troops kill 26 Boko Haram fighters, destroy 10 motorcycles in Kukawa
At least 26 Boko Haram fighters have been killed and 10 motorcycles destroyed after troops of the 101 Special Forces Battalion repelled an attack on their position in Kukawa Local Government Area of Borno State.
The attack occurred at about 10:50pm on Friday, August 28, 2026, according to the Acting Military Information Officer, Headquarters of the Joint Task Force (North-East), Operation Hadin Kai, Captain Mohammed Goni.
In a statement issued in Maiduguri on Saturday, Goni said the attackers launched an assault on the military position but were met with direct and indirect fire from the troops.
The military response reportedly forced the fighters to retreat towards the Cross Kauwa axis, with several of them killed during the encounter while others escaped with gunshot wounds.
Troops subsequently conducted an exploitation of the area and recovered some of the bodies of the fighters killed during the confrontation.
As the fleeing terrorists attempted to withdraw from the area, the Air Component of Operation Hadin Kai was deployed to track and engage them.
Goni said the operation was conducted despite challenging weather conditions, with military aircraft locating a group of the fleeing fighters taking cover under trees.
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The air component subsequently carried out a strike that reportedly killed an estimated 10 terrorists.
The operation was further supported by Intelligence, Surveillance and Reconnaissance (ISR) assets of the Multinational Joint Task Force (MNJTF).
According to Goni, the surveillance assets tracked about 20 motorcycles carrying fleeing terrorists towards the Tunbuns/Kangarwa axis.
The intelligence enabled the Air Component to conduct a follow-up precision strike, which reportedly killed an additional 15 terrorists and destroyed 10 motorcycles.
Ground troops continued operations in the area and reportedly killed another terrorist during subsequent exploitation.
They also recovered two motorcycles, assorted ammunition and other logistics items, according to the military.
The coordinated ground and air operations were aimed at preventing the attackers from regrouping after the failed assault and disrupting their ability to move fighters and supplies around the area.
The military said the operation further degraded the terrorists’ mobility and fighting capability, while denying them the opportunity to reorganise and launch another attack.
Following the engagement, troops were reportedly replenished by air with essential combat supplies to enable them to sustain the operation and maintain pressure on terrorist elements.
Four military personnel sustained injuries during the confrontation. However, the military said none of the injuries was life-threatening.
The wounded personnel were evacuated by air for medical treatment and were reported to be in stable condition.
Troops have since commenced reorganisation and extensive exploitation of the area, while battle-damage assessment remains ongoing.
Goni said the successful defence of the Kukawa military position demonstrated the ability of Operation Hadin Kai to integrate ground forces, air assets and intelligence capabilities in responding to terrorist threats.
The latest operation also underscores the strategic importance of Kukawa and the Cross Kauwa axis, which are located within the wider Lake Chad Basin security theatre where insurgent groups have continued to operate.
The area has witnessed repeated counter-insurgency operations as Nigerian forces and the Multinational Joint Task Force work to restrict the movement of Boko Haram and Islamic State-linked fighters around the Lake Chad region.
The Nigerian military has increasingly relied on a combination of ground operations, airstrikes and intelligence-led surveillance to track terrorist movements, disrupt their logistics and prevent attacks on military positions and communities in Borno.
The military said it would sustain offensive operations and intelligence-led surveillance aimed at degrading terrorist capabilities, denying them freedom of action and protecting communities across the North-East.
The casualty figures released by the military represent its assessment of the operation. Independent verification of the reported number of terrorists killed was not immediately available.
Borno: Troops kill 26 Boko Haram fighters, destroy 10 motorcycles in Kukawa
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Police Rescue Two Colombian Women Held Captive by Trafficking Syndicate in Lagos
Police Rescue Two Colombian Women Held Captive by Trafficking Syndicate in Lagos
LAGOS, Nigeria – Operatives of the Nigeria Police Force attached to the National Central Bureau (NCB) of INTERPOL, Lagos Annex, have rescued two Colombian nationals who were allegedly lured to Nigeria and held captive by a human trafficking syndicate. The victims, identified as Maria Camila Rodas Ortiz and Yuliet Fernanda Rios Mesa, were rescued following actionable intelligence received from INTERPOL-NCB, Bogotá, on Wednesday, August 26, 2026. This operation marks a significant victory in the ongoing fight against transnational organized crime and human trafficking, demonstrating the effectiveness of international law enforcement cooperation between Nigeria and Colombia.
The Force Public Relations Officer, CSP Ani Iniedu, disclosed the details of the operation in a statement released on Saturday, August 29, 2026. According to the statement, the two women were “fraudulently lured to Nigeria, held against their will, and had their travel documents confiscated” by some Chinese nationals, who are currently at large. Upon receipt of the intelligence from INTERPOL-NCB Bogotá, police operatives promptly launched a covert tracking operation, locating the hideout in Lagos where both victims were safely rescued on the same day. The statement read in part, “Upon receipt of the intelligence, police operatives promptly launched a covert tracking operation, locating the hideout in Lagos where both victims were safely rescued on the same day.” According to police, the suspects fled the location when they noticed the approaching operatives. “The fleeing suspects abandoned the location upon sighting the approaching team, and efforts have been intensified to track down and arrest all members of the syndicate,” the statement said. The police have assured the public that efforts are ongoing to track down the fleeing suspects and dismantle the trafficking network.
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The police said the rescued Colombian nationals are currently in safe custody and receiving necessary support, including medical care and counseling services to help them recover from their traumatic experience. The statement further disclosed that the Colombian Embassy in Accra is working in close collaboration with the National Central Bureau to secure hotel accommodations for the victims and arrange emergency travel documents to ensure their safe return to Bogotá. The embassy’s involvement underscores the importance of diplomatic cooperation in handling cross-border trafficking cases and ensuring that victims are not re-victimized by bureaucratic hurdles.
The Inspector-General of Police, Olatunji Disu, reaffirmed the unwavering commitment of the Nigeria Police Force to safeguarding the lives and property of all residents within the country, while deepening collaboration with international law enforcement partners to combat cross-border crimes. The statement said Disu “reaffirms the unwavering commitment of the Nigeria Police Force to safeguarding the lives and property of all residents within the country, while deepening collaboration with international law enforcement partners to combat cross-border crimes.” The police said efforts had been intensified to arrest the fleeing suspects and dismantle the trafficking network.
This rescue operation highlights the growing challenge of transnational human trafficking in Nigeria, which serves as both a source, transit, and destination country for victims. According to the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Nigeria has seen an increase in cases involving foreign nationals being trafficked into the country for forced labor, sexual exploitation, and other forms of modern slavery. The involvement of Chinese nationals in this case points to the international nature of trafficking syndicates operating in the country. The police have called on members of the public to remain vigilant and report suspicious activities to law enforcement agencies, as community cooperation remains vital in combating these crimes.
Police Rescue Two Colombian Women Held Captive by Trafficking Syndicate in Lagos
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