CENTRAL BANK FREEZES NIGERIAN BILLIONAIRE’S ACCOUNT

MBABANE – A bank account with millions of Emalangeni belonging to Nigerian billionaire Chief Benjamin Aghalieaku Arinze has been frozen by the Central Bank of Swaziland.

He had deposited the money in the bank account of his local company held by Nedbank Swaziland.
His company is known as Aghalieaku Airways and it operated a cargo plane at King Mswati III International Airport.
The Central Bank of Swaziland has since issued an order to Nedbank Swaziland to freeze the account which had undisclosed millions though the businessman had allegedly instructed Nedbank to release funds amounting to E2.4 million in different intervals.

According to CBS Deputy Governor Mhlaba Dlamini, they reasonably believed that there could be elements of criminality involved.
Dlamini disclosed this after Arinze’s lawyers wrote a letter to CBS, demanding the release of the money to a company in Russia.

“We courteously advise that we still have not finalised our process in this matter, as we reasonably believe there could be elements of criminality involved, which we are lawfully obliged to report to the rightful agencies for investigation upon finalising our administrative functions,” reads part of a letter that was written by the deputy governor directed to the billionaire and his company.

The deputy governor further pointed out that in matters of this nature, they strictly dealt with the financial institution concerned, which they expected to comply, inter alia, with provisions of Section 38(3) of the Financial Institutions Act, 2005.

“Furthermore, as pointed out to yourselves before, we trust that as an accountable institution in terms of the Money Laundering and Financing of Terrorism (Prevention) Act, 2011, you will treat this matter with the utmost confidentiality,” stated Dlamini in his letter to Nedbank Swaziland.

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