A Federal High Court in Abuja has vacated with immediate effect an interim ruling under which the Central Bank of Nigeria (CBN) froze the bank accounts of RiseVest Technologies in two banks.
The CBN alleged, among other things, that some of the transactions of the affected fintech companies were in violation of its directive and were contributing to the naira’s weakening against the US dollar.
The parties to the suit are CBN Governor (Plaintiff/Respondent) V Rise Vest Technologies Ltd (1st Defendant/Applicant) & five Others.
The court made the judgment while deciding a Motion on Notice filed by Rise Vest Technologies, asking the court to release an interim freezing order granted by the court on August 17, 2021, in Suit No: FHC/ABJ/CS/822/2021, which The Nation received on Monday.
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