NNPP orders banks to freeze accounts amidst financial dispute

The New Nigeria Peoples Party (NNPP) has directed banks nationwide to halt all transactions on its accounts, citint financial disputes and alleged misconduct by some party officials.

This directive has sent shockwaves through the political and financial spheres, raising questions about the party’s internal governance and financial management.

In a statement issued at the weekend, the NNPP National Secretary, Oginni Olaposi, said the party recognized the fact that the original Certificate of Registration is the prerequisite for the opening and operations of Bank Accounts and financial transactions.

He, therefore, ordered the banks to stop any transaction with the name of the party

The secretary explained that the order was to prevent further unauthorized withdrawals and transactions on its accounts, which are believed to be in the millions.

Oginni said the NNPP Board of Trustees as part of efforts to deal with fraudsters who have infiltrated the party, called for the cooperation of all Commercial Banks and financial institutions in this regard.

NNPP rules out Gov Yusuf’s suspension

He added that the EFCC has also been duly informed of the nefarious activities of fraudsters pretending to be NNPP’s officers.

He said: “therefore, the managing directors of the various financial institutions should excuse themselves from any embarrassing moment with government agents who may regard them as conspirators in financial crime.”

The freeze on NNPP‘s accounts has sparked concerns among party members, supporters, and political observers, who worry about the potential implications on the party’s operations and electoral prospects.

The development comes at a critical time, as the party prepares for upcoming elections and seeks to consolidate its political gains.

As the situation unfolds, political analysts are closely watching the NNPP’s handling of the crisis, which may have significant repercussions for the party’s reputation and political fortunes.

The development serves as a reminder of the importance of internal party governance, financial transparency, and accountability in Nigeria’s political landscape.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now