Skip to main content

N126 Billion Seized From 120 Accounts By EFCC

The Economic and Financial Crimes Commission (EFCC) has frozen over N126billion in the accounts of some suspects in order not to jeopardise investigations, the agency said yesterday.
More than 120 bank accounts are affected by the freeze order.
About  N126,563,481,095.43 was temporarily seized by the EFCC pending the conclusion of corruption-related cases.
Other cash and assets under Interim Forfeiture is $9,090,243,920.15, seized from suspects facing trial or under investigation.
Apart from freezing of N32.8 billion from six suspects implicated in the Police Pension Office, some high profile suspects  with accounts among the over 120 frozen include ex-Minister of Petroleum Resources Mrs. Diezani Alison-Madueke, ex-National Security Adviser (NSA) Col.  Sambo Dasuki (retd),  ex-Chief of Defence Staff Air Chief Marshal Alex Badeh; ex- Chiefs of Air Staff Air Marshals Adesola Amosu and Mohammed Dikko Umar; Robert Azibaola( ex-President Jonathan’s cousin) and ex-Minister of Aviation Femi Fani-Kayode, among others.
The action of the EFCC has generated criticisms, with most suspects claiming that the freeze was prejudicial.
But the Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren, in a statement, said the anti-graft agency was not being vindictive.
The statement said: “In recent times, a lot of interest has been generated by the action of the Commission in freezing the accounts of suspects that were investigated or are currently being investigated. Some commentators have tended to ascribe vindictive motives to this action
“In order to prevent misinformation, it is imperative to explain the reason behind the Commission’s actions in this regard.
“Freezing of accounts suspected of being used for commission of financial crimes is a mandatory investigative step backed by law. Indeed, Section 34 (1) of the EFCC Act 2004 empowers the Commission to freeze any account suspected of being used for financial crimes.
The section stipulates that “the Chairman of the Commission or any officer authorised by him may, if satisfied that the money in the account of a person is made through the commission of an offence under this Act or any enactment specified under Section 6(2) (a)-(f) of this Act, apply to the court ex-parte for power to issue or instruct a bank examiner or such other appropriate authority to freeze the account”.
“Similar provision in the Money Laundering Prohibition Act 2012 (as amended) also empowers the EFCC Chairman or his representatives to place a stop order on any account or transaction suspected to be involved in any crime.
“The intendment of these provisions is to ensure that the Commission safeguards suspected proceeds of crime pending the completion of its investigation. It is without prejudice to the social standing of the holder of such accounts or whether they are individual, corporate or government accounts.
“Freezing orders are incidental to investigation and doing otherwise will jeopardise the prospects of recovering stolen assets.”

Comments

Post a Comment

Popular posts from this blog

See Details About The Newly Appointed MD Of Nigerian Port Authority-Hadiza Bala Usman

President Muhammadu Buhari appointed Hadiza Bala Usman as the Managing Director of Nigerian Ports Authority (NPA) which is to take effect from11th of July,2016. Hadiza Bala Usman is a member of the Bring Back Our Girls, a group campaigning for serious action on the rescue of over 200 Chibok girls abducted two years ago. She was appointed alongside Mohammed Bello-Koko Executive Director (Finance), Prof. Idris Abubakar Executive Director (Engineering), Dr. Sekonte Davies Executive Director (Marine Operations). Hadiza Bala Usman was born on 2nd January, 1976 in Zaria, Kaduna State.She holds a B.Sc. Degree in Business Administration from Ahmadu Bello University (ABU), Zaria and a Post Graduate in Development Studies from the University of Leeds, United Kingdom in 2009. She started her Career with Centre for Democratic Development and Research Training (CEDDERT) Zaria, a Non-Governmental Organization in June 2000 as a Research Assistant,worked at the Bureau of Public Enterprises (BPE)...
Post a Comment
Read more

NDIMRC Dissaproves Removal of Kachikwu as MD-NNPC

Niger Delta Indigenous Movement For Radical Change (NDIMRC) on Friday disapproves the removal of Dr. Ibe Kachikwu as the Managing Director of the Nigerian National Petroleum Corporation (NNPC).According to a statement signed by Nelly Emma; President of the group, Secretary, John Sailor, and Public Relations Officer (PRO), Stanley Mukoro, disappointment was expressed at the sudden decision of the President to remove Kachikwu who had been labouring to calm down the militants for oil exportation to improve. Kachikwu, who for eight months had doubled as the Minister of State for Petroleum Resources, and will now serve as the Chairman of the NNPC board, had led a Federal Government team last month to negotiate a peace deal with the militants. The group said: “Only last month, the hard-working Dr Kachikwu,against threat to his life and members of his family, took a risky trip to the troubled Niger Delta Region to see things for himself at the controversial Nigerian Maritime University, Oke...
Post a Comment
Read more

Sterling Bank Properties On Sale;Buy 1 Now(See Description,Prices and Locations)

Interested Persons should Contact Yvonne: 08146342452 OR Whatsap: 08184096293 (They are all the Property of Sterling Bank) S/N ADDRESS DESCRIPTION OF PROPERTY PRICE 1 BLOCK 1, PLOT 2, OBA YUSUFF ABIODUN ROAD, ONIRU LAYOUT, VICTORIA ISLAND FENCED 3056.908SQ. METRS UNDEVELOPED PLOT. 550000000 2 23B JIDE AGBALAYA STREET, CHEVY VIEW ESTATE, AJIRAN, LEKKIPHASE1.7BEDROOM DETACHED HOUSE ON ALL FLOORS WITH A GATE HOUSE 75000000 3 No 77 Cemetery road, warri/Sapele road, warri Delta State. 1 storey building 15000000 4  5, Sir Johnson Asinugo Street, Off Alpha Beach Road, Lekki, Lagos. 2 wings of 4 Bedroom Semi-detached house, a gate house and a room boy's quarter each. 135000000 5 No. 12, Gideon Isaac Street, Off Jejelaye Road, Ajangbadi, Ojo Local Government area, Lagos State A residential property consisting of 6-bedroom bungalow, all fenced round in sandcrete blockwalls. 15000000 6 NO 7 ASHIMOWU STREET, OFF SEKONI ST. BESIDE JOLAD HOSPITAL, GBAGADA ...
Post a Comment
Read more