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Dangote's accounts with 20 banks frozen

05 September 2014, 10:12

Abuja - A Federal High Court has temporarily frozen at least 20 accounts belonging to Sani Dangote, a brother to billionaire businessman Aliko Dangote, over his alleged failure to pay a N5.2 billion obtained from Union Bank, Punch reports.

All cheques drawn on all of Dangote’s accounts in 20 banks are not to be honoured, the court in Lagos ordered Thursday.

Also read: Dangote submits highest bid for Shell gas field

The affected banks include First Bank of Nigeria (FBN), First City Monument Bank (FCMB), Guaranty Trust Bank (GTB), United Bank for Africa (UBA), Zenith Bank, Standard Chartered Bank, Stanbic-IBTC, Access, CITI Bank, Diamond Bank, Ecobank International, Enterprise Bank, Fidelity Bank, Keystone Bank Mainstreet Bank, Skye Bank, Wema Bank, Heritage Bank, Sterling Bank and Unity Bank.

In a ruling Thursday, the judge, Okon Abang, said that the order affects payment instruments issued by the younger Dangote and his companies.

Read more at Punch


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