EFCC gets approval to probe oil firm, MD over unexplained $38m payment

A Federal High Court sitting in Abuja has given the Economic and Financial Crimes Commission (EFCC) the go-ahead to probe an oil and gas services firm, Marine Assets and Offshore Equipment Limited, and it’s General Manager, Olusegun Olaleye.

The court vetoed a suit filed by the firm, seeking to stop their investigation by the EFCC.

In a judgment on Tuesday, Justice Bolaji Olajuwon insisted that there was no merit in the case that sought to restrain the EFCC from investigating the payment of huge sums into the plaintiffs’ bank accounts by some firms for unknown reasons.

Justice Olajuwon disagreed with the lawyer of the plaintiffs, Mike Ozekhome (SAN), that the investigation into the plaintiffs’ activities by the EFCC amounted to harassment and ultra vires its (EFCC’s) powers.

The judge agreed with the lawyer of the EFCC, Ekele Iheanachor, that allegations of economic and financial crimes were established against the plaintiffs and others, which required the activation of the powers of the EFCC to probe their activities.

She added that contrary to the plaintiffs’ contention, the EFCC could investigate tax evasion within its powers to investigate economic and financial crimes.



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