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Central Bank Cautions Banks over Accounts in Tigray

Several bank accounts opened in Tigray Regional State were frozen a day after the federal government declared a humanitarian unilateral ceasefire, and authorities in Addis Abeba said they withdrew federal forces from the region on June 28, 2021. However, authorities at the central bank left the decision to the banks' discretion, cautioning them to manage risks while the regional state is cut off from the rest of the country.

This was followed by the takeover of Meqelle, the seat of the regional administration, by Tigray Defense Forces (TDF), cheerfully welcomed by thousands of residents. Subsequently, electricity to the region was cut off, telecommunications services interrupted, and air and surface transport from and to the regional state blockaded.

Last week, clients with accounts in the regional state were unable to deposit or withdraw cash – an experience many are suffering for the second time since November last year.

A medical professional who opened an account with the Commercial Bank of Ethiopia (CBE) in Hawzen, a town located in eastern Tigray, discovered on Tuesday morning his account was frozen. He pleaded before the employees of a CBE branch in the Bole neighbourhood but he was told accounts opened in Tigray have been frozen.



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Every Agame should explain satisfactorily where and how he made his millions. A full audit for each and every account is a must. The TPLF thugs are known for hiding their money in the accounts of their relations and minions. Ethiopians should get rid of the gloves with the Agames who have abused their stay in Ethiopia, collaborated with the TPLF. This is war and in war you fight to defeat your enemy. If Abiy hadn't been a blinking Pente and spared the TPlF militia, the war would have been over in December!

Concurrence 100%!