‘EFCC Needs Court Order To Run Akingbola’s Properties’

A Federal High Court in Lagos on Wednesday held that the EFCC had no right to appoint a private firm to run seized properties, without the order of the court.

Justice Binta Nyako said that if the EFCC wanted to deal with the properties of the former Managing Director of Intercontinental Bank Plc (now Access Bank), Dr. Erastus Akingbola, that was attached to the court, it must get the approval of the court to do so.

“The commission has no right to deal with properties that had not been forfeited to the government. If they want to deal with the properties, they have to seek the order of the court, who will appoint a Receiver/Manager,” she said.

Akingbola has sued the EFCC on the grounds that it had denied him access to some of his properties that were attached by the court in Dec. 2009, pending the determination of the criminal charge against him.

He also challenged the propriety of the EFCC in appointing one E.L. Etudo, as an agent to manage and collect rents, charges or information, in respect of the properties.

Counsel to Akingbola, Chief Felix Fagbohungbe (SAN), had argued that the attached properties had not been forfeited to the Federal Government.

“We want the court to restrain the respondent from initiating, commencing or embarking on the procedure to take over the management of the properties, pending the determination of the case,” he said.

The EFCC’s Counsel, Mr Godwin Obla, however, urged the court to reject the application for being frivolous and lacking in merit.

He contended that the EFCC only appointed Etudo to manage the attached properties in an escrow account, pending the determination of the criminal trial of the applicant.

Obla argued that Akingbola was restrained from dealing with a property known as Amazing Grace Plaza in the order of court, but had, however, continued to operate the property.

“He had, through a company known as Amazing Inspiration Media Ltd., collected the sum of N10.8 million as rent for two years on the attached property,” he said.

Nyako adjourned the till June 26, for the continuation of the case.