Category: Banking Law
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Can a Bank Place a Restriction on a Customer’s Bank Account Based on a Law Enforcement Agency’s Directive and without Securing a Court Order? A Review of the Court of Appeal’s Decision in FBN Plc & Anor v DKN Investment Ltd. & Anor (2025) LPELR-80878(CA)
Introduction: It has become a notorious practice among banks in Nigeria to place Post-No-Debit (PND) orders on their customers’ accounts upon receiving directives from law enforcement agencies, such as the Nigeria Police Force, the Economic and Financial Crimes Commission (EFCC), or the Independent Corrupt Practices and Other Related Offences Commission (ICPC). These directives are often…