A Federal High Court in Abuja has vacated a 9 September 2024 order in which it froze the account of a Nigerian firm, Micoz Bluelink Enterprise, containing $163,592.
In a ruling on Wednesday, Justice Emeka Nwite held that the Economic and Financial Crimes Commission (EFCC), which earlier obtained the order, failed to produce concrete evidence of suspicion of fraud to justify the freezing of the account.
The judge upheld the contention of Micoz Bluelink that, in the absence of any report by the bank indicating criminal evidence, the funds in the firm’s account were not proceeds of crime.
He held that the EFCC did not show any concrete or reasonable suspicion that the firm committed an offence but merely sought the court’s order to punish it.
Justice Nwite averred that the EFCC bore the burden of proving that its application to freeze the firm’s account complied with the law.
The judge said the anti-graft agency failed to provide evidence that the funds constituted proceeds of fraud or any crime committed either in Nigeria or elsewhere.
He added that the EFCC did not rely on a criminal complaint, a court order, a charge, or an indictment but merely sought to freeze the applicant’s account.
Vacating the order, Justice Nwite declared that the firm is constitutionally entitled to access its funds, having not been proven to be involved in any crime.
