Court Okays Seizure Of Fayose’s Assets

Justice Nnamdi Dimgba of the Federal High Court, Abuja held yesterday that the temporary order of attachment granted in relation to some identified assets of Ekiti State Governor Ayo Fayose did not violate Section 308 of the constitution.

The judge said the intention of the immunity clause granted to some public office holders is not to shield them from investigation by security agencies for the purpose of obtaining evidence for future uses.

Justice Dimgba gave the ruling yesterday on an application by Fayose, whose lawyer Mike Ozekhome (SAN), had sought to vacate the order of interim attachment granted by the court on July 20 to the Economic and Financial Crimes Commission (EFCC).

The order was in relation to the EFCC’s investigation of some activities of the governor and some of his associates.

The affected property to which the order relate, include four sets of four-bedroom apartments at Chalets 3, 4, 6 and 9, Plot 100, Tiaminu Savage, Victoria Island, Lagos.

Also affected are at 44 Osun Crescent, Maitama, Abuja and Plot 1504 Yedzeram Street, Maitama Abuja.

The EFCC had, while seeking the order, stated in an affidavit accompanying its motion ex-parte that the properties were acquired through proceeds of fraud, which Fayose allegedly got through kickbacks from contractors and other alleged fraud.

It stated that the funds used for the purchase of the properties were said to be drawn from the sum of N1, 219,490,000, which was said to be part of the N4, 745,000,000, allegedly stolen from the treasury of the Federal Government through the Office of the National Security Adviser.

In his application filed on notice on July 21, Ozekhome hinged his request for the court to set aside the order of interim forfeiture on 10 grounds.

He argued that the court lacked jurisdiction to entertain and/or proceed to grant the interim order.

Ozekhome contended that in view of the immunity enjoyed by Fayose as sitting governor by virtue of the provision of Section 308 of the Constitution, he (Fayose) “cannot be proceeded against in a court of law”.

Justice Dimgba upheld the argument of EFCC lawyer Andrew Akoja, to the effect that the July 20 order was validly made.

“It is my considered opinion that the order of court, made on July 20, 2016 in respect of some property of the applicant, and within the limited scope and duration within which it was obtained, was duly procured and does not offend the provision of the Constitution referred to,” the judge said.

Justice Dimgba said although Section 308 of the Constitution serves to protect governors of states from the distraction of litigation and legal proceedings, to enable them to attend to official responsibilities, it should not be interpreted in such a way as to defeat the fight against corruption, to mean that the EFCC or other investigating agencies cannot take a peep into the assets or personal accounts of a serving governor in the execution of a strictly worded and mutually supervised interim attachment orders for the purposes of obtaining evidence for use in future when the immunity has lapsed.

“In the light of the above, I hold that the applicant is not entitle to the reliefs sought and are hereby refused.

“However, in the interest of justice and not to appear to make a mockery or nonsense of the immunity clause, I hold that the interim attachment order of July 20, 2016, granted by this court in favour of the respondent (EFCC) shall last for 45 days as the court had already ordered, within which the respondents must conclude their investigation in respect of those property, at the end of which every encumbrance on the property arising from the order of court, must abate.

“I order that in the event that the respondent may wish to renew the interim attachment order as they are entitled to, they must serve the motion to that effect on the applicant not later than five days to the expiration of that order, without which the order shall stand abated,” Justice Dimgba said.

Credit: TheNation

Oil Price Rises To $33pb As Russia Okays OPEC’s Position

Hope was rekindled yesterday after crude oil price rose 40 cents to $33.12 per barrel, paring earlier losses after fresh comments from Russia about its openness to talk with the Organization of the Petroleum Exporting Countries (OPEC) over output cuts.

Russian foreign minister, Sergei Lavrov, said if there is consensus among OPEC and non-OPEC members to meet, “then we will meet”.

This helped push the price of oil, which had been set for a third day of decline after data on Tuesday showed another big build in U.S. inventories, off the day’s lows.

Brent for April delivery rose 40 cents to $33.12 a barrel, pulling away from a session low of $32.30.

US crude futures rose 46 cents to $30.34, off a session low of $29.40.

“Is there going to be a meeting between Russia and OPEC? That is a supportive factor in this rally that we’ve seen in the last one hour,” PVM Oil Associates analyst, Tamas Varga, said.

Oil is the mainstay of the Nigerian economy and the country is reeling from huge revenue loss following the crash of crude oil price.

Credit: Leadership