Firm allege disregard of court order by EFCC, from accessing funds

Philip Clement, Abuja

Eleme petrochemicals co-operatives investment and credit society limited has allege the refusal of the Economic financial crimes commission (EFCC) to acknowledge a court order granting it permission to access it’s funds.

In a statement, the Corporative stated that the EFCC through intimidation has continued to infringe on the right of the members of the co-operative by denying them access to their funds in first Bank Nigeria Ltd , an action that goes against a subsisting court order.

Part of the statement reads: “Hon. Justice N.E Maha had on 15th day of January Ordered that restriction placed on the account of Eleme petrochemicals co-operatives and investment and credit society be lifted.

” The bank is demanding that the co-operative signs an indemnity against claims by the EFCC before obliging to honour its obligations to the cooperative a demand that is contrary to the contract between a bank and its customer and against all extant rules of banking.

“While the co-operative have written to the First bank plc to explain if there is any court Order served on them by the EFCC restricting it from honoring its obligations to the cooperative the bank has not produced any such order. but could only refer to harassment from EFCC.

EFCC had sort to pervert the course of justice from the beginning having joined issues with the co-operatives in a suit to enforce the fundamental rights of the shareholders of the cooperative but surreptitiously went behind to another court of co-ordinate jurisdiction to obtain an interim order freezing the account of the co-operatives but all this actions failed as the Court after discovering the attempted sharp practice of EFCC ,granted an order lifting the interim restriction on the said account.

“Having failed in that regards, the EFCC have resorted to intimidating First Bank PLC to act against the court Order which allows the co-operatives to operate their account without any restriction,”

It is to be noted that the Efcc started to investigate the ownership of the shares of the cooperative after the cases at the Federal high court and the Industrial Court had been decided.

The cases pending in various Courts over the ownership of the shares of Indorama was triggered by the BPE which was a party sued in case at the Industrial court, when it petitioned the EFCC over the matter at the instigation of the newly recruited staff of the Indorama and Indorama itself.

The efcc has despite the judgment of the Federal High Court which confirmed the shareholding of the exited staff has continued to intimidate the exited staff and the cooperative this also despite the orders of justice Taiwo .O .Taiwo of the Federal high court in Suit FHC/ABJ/SC/1222/2020 granting an Order stopping the EFCC from arresting, inviting ,detaining and prosecuting or inquiring into the acquisition of shares of Indoroma Petrochemicals ltd.