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3 reasons Nigerian government can freeze your account

3 reasons Nigerian government can freeze your account

We all know the bank can freeze your account, but do you know that there are certain times when the government or court may ask the bank to freeze your account?

What could lead to the Nigerian government freezing your account?

Below are the reasons why they can do that, according to investopedia.com:

1. Suspicious or illegal activity

If there is suspicion that you are using your account illegally, the government or any anti-corruption agency can instruct the bank to freeze your account.

Suspicious activity includes: Suspicious payments from an outside country or depositing large amounts of money suspiciously, which results in your account being flagged.

When your account is frozen by the government, you usually have to get a lawyer

When your account is frozen by the government, you usually have to get a lawyer

2. Unpaid debts through creditors

If your creditors go to court against you, they can gain approval from the courts to freeze your account.

If you are also owing the government, the same process can be gone through. They can gain access to a current or savings account in order to collect payment on defaulted loans without filing a lawsuit or obtaining a judgment first.

READ ALSO: Reno Omokri blasts Nigerians, says their problem is laziness

3. Unpaid debts to the government

People who owe taxes to the government can also find their account frozen. For unpaid taxes, the government can issue a tax levy that is not to be lifted until the debt is paid in full.

Meanwhile, the police in Kogi have arrested a National Youth Service Corps (NYSC) member, Aka-Jude Tersoo, for breaking into the ATM platform of the Lokoja branch of the Eco Bank Plc.

A statement issued on Tuesday, May 2, 2017, in Lokoja by the state police command said that Tersoo was arrested at about 2:30 a.m. while breaking the ATM machine along with another suspect, Godwin Idih.

The statement which detailed achievements of the police command in March and April, said that Tersoo and Idih were caught in the act by a police patrol team on duty which promptly arrested them.

NAIJ.com recently spoke to Nigerian celebrities on the whistle-blowing policy. Listen to what they have to say below:

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