A Federal High Court in Abuja has lifted freezing orders placed on the bank accounts of four defendants allegedly linked to a 2023 system glitch involving billions of naira.
Justice Emeka Nwite set aside the ex-parte order that imposed the restrictions, ruling that the police had failed to disclose a previous court order that had already lifted restrictions on the affected accounts.
According to Channels Television, the dispute stems from alleged fraudulent withdrawals from a Flutterwave account domiciled with Wema Bank during a system glitch on October 12 and 13, 2023.
The police had alleged that the four defendants were among individuals whose accounts received substantial amounts of money connected to the incident. Investigators subsequently arrested some suspected Point-of-Sale agents and commenced investigations and legal proceedings.
The defendants, however, challenged the restrictions, arguing that an earlier order issued by Justice Liman had already discharged the restrictions on their accounts.
Their lawyers accused the police of suppressing material facts and engaging in forum shopping when seeking a fresh freezing order.
In his ruling, Justice Nwite agreed that the failure to disclose the earlier order amounted to material non-disclosure.
The judge said a court order could not stand where judicial discretion had been exercised on an incomplete factual foundation.
He consequently set aside the ex-parte order made on June 2, 2026, along with all consequential directives.
The court also discharged all freezing orders, restrictions, liens, Post-No-Debit instructions and other encumbrances imposed on the accounts or properties of the four defendants under the order.
The ruling does not determine the underlying allegations concerning the 2023 Flutterwave-related system glitch, but removes the restrictions imposed on the four defendants’ accounts through the June 2 order.