Financial Offences: EFCC Set To Investigate Top Oil Firm

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The Federal High Court in Lagos has refused to restrain the Economic and Financial Crimes Commission (EFCC) from investigating an alleged suspicious payment to an oil firm, Zone 4 Energy Ltd.

Lawyer for the oil firm, Mr. Lanre Ogunlesi (SAN), claimed on Monday that the EFCC was had invited his clients for interrogation over an allegation that the firm received N5bn authorised by a former Minister of Petroleum Mrs. Diezani Alison-Madueke.

However, Justice Abdulazeez Anka of a Federal High Court in Lagos on Monday declined the plea to stop the EFCC from inviting the directors of the firm for interrogation.

Ogunlesi prayed the court to partially discharge the order restraining Zone 4 Energy’s assets on the basis that the petroleum products belonged to a third party.

“The petroleum products don’t form part of the charged assets,” he said, arguing that the restraining order made by Justice Saliu Saidu of the same court was only in respect of the tank farm and not the products.

Oyebanji opposed the application, saying: “We’re entitled to both the tank and the petroleum products.”

Refusing to restrain EFCC, Justice Anka said he would not stop the commission from doing its work.

Anka said: “Investigation cannot be stopped. Whether they called your client, whether they’re detaining them or whatever, I can’t stop EFCC from doing its job.

“As you said, it’s related to another matter in which the accounts are involved. I can’t stop any criminal investigation. I can’t give any order stopping an investigating authority.”

Justice Anka adjourned till August 24 for ruling and hearing.

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