The
Ibadan Zonal Office of the Economic and Financial Crimes Commission,
EFCC is investigating cases of conspiracy and stealing involving the use
of Garnishee Orders targeted at High Net worth bank accounts with low
or no activities.
According to Head Public Affairs, EFCC, Ibadan Office, Mr Ayo Oyewole, the investigation is sequel to
series of complaints from some banks on the increase in the inflow of
such court orders on a number of dormant accounts. Three of such cases,
where attempts were made to steal over thirty million naira (N32, 219,
975. 64), are receiving the attention of the operatives of the
Commission to unravel the brains behind this new spate of crimes.
An
Ibadan based legal practitioner (names withheld) has been arrested and
is still being quizzed in connection with an attempt to procure such
phony court orders.
However, investigations have
revealed that one of the modes of operation is that two individuals will
approach the court to decide on alleged case of breach of contract,
having at their disposal insider information on the inactive bank
account with high net worth.
Oyewole said: "A third party
purported to be the owner of the targeted dormant account would be
joined in the matter as being responsible for the failed transaction. Having
secured a judgment on the phony case of breach of contract, one of the
parties would present a prayer before the court for a Garnishee action
against the dormant account.
"The bank is by the
Order then compelled to affect a transfer of funds from the account
without the knowledge of the original owner of the account. It
is imperative that bank officials become wary of how Garnishee Order on
any account is processed and obtained and take necessary action to
protect their customers."
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