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Monday, 7 November 2016

Read the New Development on the Restriction of Gov. Fayose's Zenith Bank Accounts by EFCC

The court of law is prepared to make a final decision on the controversial restriction placed on the Zenith Bank accounts of Governor Ayodele Fayose despite the immunity clause protecting him as a governor.

Justice Taiwo Taiwo of the Federal High Court sitting in Ado-Ekiti on Monday, fixed Dec. 2 for judgment on the freezing of Gov. Ayo Fayose’s Zenith Bank accounts by the Economic and Financial Crimes Commission (EFCC), according to the Vanguard.

Taiwo’s order followed the adoption of written addresses and other evidences by parties involved in the suit.

Recall that Gov. Fayose’s two bank accounts domiciled with Zenith Bank Plc in Ado-Ekiti, were on June 20, frozen by the EFCC. Fayose, through his lawyer, Mike Ozekhome, approached the court for an order ordering EFCC, the first respondent, and Zenith Bank, second respondent, to immediately lift the freeze order on the accounts.

Ozekhome argued that the action of EFCC in placing an embargo on his client’s personal bank accounts was illegal, unconstitutional and an infringement on the Fundamental Rights of the applicant.

He said EFCC acted contrary to Section 308 of the Constitution of the Federal Republic of NIgeria,1999, as amended which granted immunity to a sitting governor not to be prosecuted in either civil or criminal matters.

Some of the prayers sought by Fayose in suit number: FHC/AD/CS/27/2016 included an order of the court for immediate lifting of the freeze order on the accounts and to make same functional. Ozekhome urged the court to grant all the prayers of the applicant while cost should also be awarded in favour of his client.

While adopting his written address and 10 paragraph-affidavit, counsel to EFCC, Mr Rotimi Oyedepo, told the court that the commission acted within its statutory and constitutional power, citing Section 6(5)(b) of the Money Laundering Prohibition Act, 2011.

He also argued that Sections 19,34 of the EFCC Establishment Act empowers the commission to carry out every action or step taken against the applicant.

“By the provision of this sections, EFCC has power to instruct Zenith Bank to place ” Stop Order "on the account suspected to be proceeds of alleged crime,” he said.

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