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Bola Shagaya's Accounts Was Found With N8.7 Billion and Has Been Frozen By The EFFC

BISOLA SHAGAYA

Hajiya Muinat Bola Shagaya's  three(3) bank accounts which were said to have contained in it, the huge sum of N8,627,458,773.36 billion was reported frozen by The Economic and Financial Crimes Commission (EFCC). Bola is an associate and friend of a former First Lady, Mrs. Patience Jonathan.

Its very obvious that a bank account containing that huge sum of money would not just stay there since its linked to a Nigerian politician. Wait!!! Can this still be the whistle blowing movement? Well, as read from The Nation the previous day, Bola's association with about 10 firms and other accounts are being investigated by the anti-graft agency.

But Shagaya, who did not hold any public appointment during the administration of ex-President Goodluck Jonathan, has dragged Unity Bank to the High Court of Lagos State for allowing the EFCC to Post No Debit (PND) on her accounts without a valid court order.


She says the action taken on her accounts violates Section34 (1) of the EFCC Act, 2004.

Besides, the withdrawal ban placed on one of her accounts has prevented her from defraying N514, 800,000 incurred as cumulative costs in the course of an Aircraft Lease Agreement of a bombardier Jet, according to documents which Shagaya filed and deposed to at the Court alongside with her counsel, Napoleon Emeaso-Nwachukwu.

Hearing of the matter is slated for September 28.

However, Unity Bank says its hands are tied by the law in complying with the EFCC’s directives to freeze Shagaya’s accounts.