By Ade Jacobs
There appears to be no end in sight to the controversial decision by Access Bank Plc to freeze the accounts of some perceived promoters and sympathizers of #EndSARS protesters last month, as sources in the bank informed 365Daily that the Central Bank of Nigeria, (CBN), threatened to withdraw the licence of the bank if it refused to carry out the order.
Angry Nigerians had, last week, embarked on an online campaign for customers to boycott Access Bank for freezing the accounts of 19 individuals and firms believed to have taken active part in the protests.
Some prominent Nigerians, including Aisha Yesufu, a social critic and human rights activist, had called for a boycott of banks accused of freezing protesters’ accounts.
“They messed with the wrong generation. #BoycottAccessBank,” Yesufu, said on Twitter, on Saturday, a comment which was retweeted over 4000 times and had more than 8,000 likes on the microblogging site before the end of that day.
The bank pleaded for understanding after some customers said they will close their accounts with the new generation bank, which insisted that it only obeyed the apex bank’s directive on the issue.
Speaking with 365Daily on Thursday, Abdul Imoyo, the spokesman of the bank said he could not make any comment, since the matter is already in the court. He said the statement issued by the bank, last week, still subsists and would not want to be prejudicial on a matter that’s already in a competent court for adjudication.
The bank said in a statement over call to boycott its service “We want to express our sympathy for the inconvenience that eight of our customers are going through due to the restrictions on their accounts as mandated by a Federal High Court order. We are eager for this to be resolved as soon as possible
“It is common knowledge that we and the entire banking industry are regulated entities and therefore operate under the authority of our regulators and law enforcement agencies. As such we are compelled to comply with regulatory directives.
“While acknowledging the concern of all well-meaning parties, we urge that enquiries and views be channeled to the relevant regulatory and judicial agencies where the matter is receiving attention.
“It is therefore surprising that some individuals still choose to target Access Bank in a negative manner despite not being the source of the action”
Speaking anonymously, a source in the bank said it was sad that some persons embarked on a smear campaign to destroy the image of the bank which had only been law abiding by obeying a directive from the CBN.
One of the allegations against the bank is that it agreed to freeze the said accounts without a valid court order, even when other banks refused to do so. For instance, IBTC Plc management was said to have refused to apply the restricting order from the Godwin Emefiele-led apex bank on the argument that there was no valid court warrant.
Gatefield Nigeria Ltd, a public affairs company that coordinated fundraising for media to cover the #EndSARS protest, had filed a case against Access Bank for illegally freezing the company’s account for raising funds for media to cover the protest.
The firm said its account was frozen on October 15, five days before the CBN got a court warrant to restrict the accounts of those perceived to be promoters and sympathizers of the protesters.
The CBN only got the nod of the federal high court in Abuja to freeze the accounts of Gatefield, a public affairs company and 19 other individuals linked to the #EndSARS protests on October 20.
The request was granted by Justice Ahmed Mohammed which said the account should be restricted till January next year.
Some of the affected individuals are Bolatito Racheal Oduala, Chima David Ibebunjoh, Mary Doose Kpengwa, Saadat Temitope Bibi, Bassey Victor Israel, Wisdom Busaosowo Obi, Nicholas Ikhalea Osazele, Ebere Idibie, Akintomide Lanre Yusuf, Uhuo Ezenwanyi Promise and Mosopefoluwa Odeseye.
Others are: Adegoke Pamilerin Yusif. Umoh Grace Ekanem, Babatunde Victor Segun, Mulu Louis Teghenan, Mary Oshifowora, Winifred Akpevweoghene Jacob, Victor Solomon, Idunu A. Williams, and Gatefield Nigeria Limited.
But the source who spoke with this medium said the CBN had already written the banks to restrict the accounts, two weeks before the court order was obtained, adding that it was not possible to turn down a directive from the financial regulator.
“If the bank did not carry out the directive and the CBN decided to withdraw our license, that would have been very bad because, what that means is that we will not be able to transact business; consider how many jobs will be lost and those that will lose their money.”
The bank had only performed its obligations as a responsible and law abiding organization, the source said.
Apart from Access, other banks which restricted protesters’ accounts are, Fidelity Bank, First Bank Nigeria, Guaranty Trust Bank, United Bank of Africa, and Zenith Bank.