From James Ojo, Abuja.
The Economic and Financial Crimes Commission (EFCC) yesterday rose in stout defence of freezing accounts of suspects under investigation, saying it was lawful.
Reacting to allegations of vindictiveness levied against the commission, EFCC, in a statement explained that freezing of accounts of suspects believed to have been used for financial crimes was mandatory.
“In order to prevent misinformation, it is imperative to explain the reason behind the Commission’s actions in this regard.
“Freezing of bank accounts suspected of being used for commission of financial crimes is a mandatory investigative step backed by law.
“Some commentators have tended to ascribe vindictive motives to this action. In recent times, a lot of interests have been generated by the action of the Commission,” the statement signed by Wilson Uwujaren noted.
EFCC declared that section 34 (1) of its Act, 2004, empowers the commission to freeze any account suspected of being used for financial crimes.
Part of the section indicates 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.”
Apart from the EFCC Act, the anti-graft agency said it relied on a similar provision in the Money Laundering Act of 2012, as amended, which empowers 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, according to EFCC was “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 whether they are individual, corporate or government accounts. Freezing orders are incidental to investigation, and doing otherwise will jeopardize the prospects of recovering stolen assets,” EFCC added.
Between April and June 2, the anti-graft commission has frozen accounts of some ex-governors, former ministers and Peoples Democratic Party (PDP) leaders who were said to have shared or benefitted from an alleged N23 billion campaign funds, distributed to states, to enhance the electoral fortunes of the party by former Petroleum Resources minister, Mrs. Diezani Alison-Madueke.
Similarly, it was gathered that each of the 36 states benefitted between N450 million and N950 million from the campaign funds used to prosecute the 2015 general elections. It was further gathered that EFCC is in a dilemma over the alleged involvement of about six serving governors in the campaign funds. It was learnt that the sitting governors got involved, either as state chief executives then, or as gubernatorial candidates of PDP.
The commission is, however, hamstrung as it concerns sitting governors, owing to constitutional immunity from criminal prosecution, part of which excludes them from interrogation as long as they remain governors.