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Freezing #EndSARS protesters’ bank accounts saved the economy, — Chief Judge

A Chief Judge of the Federal High Court, Justice John Tsoho, has claimed that freezing #EndSARS protesters’ bank accounts by the court saved the Nigerian economy from collapsing and prevented dollars from exchanging above N500.

Speaking during a special court session held to mark the commencement of its 2020/2021 legal year, the chief judge said, “Three months before the protest, the Central Bank of Nigeria (CBN) kept bringing applications, almost in their hundreds, based on what they call deliberate resolve to ruin the economy through money laundering.

From what I gathered, if that step was not taken, the Nigerian economy could have collapsed at that point in time. The dollar would have already exchanged for far above N500. So it was that discovery that prompted the CBN to bring those applications and the orders granted temporarily saved the situation.”

Ismaeel

Statistician with interests in finance, risk management, loan products and market surveys. I also write on crypto currencies, Forex and a variety of financial instruments.

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