A Federal High Court sitting in Lagos has granted an order temporarily freezing the sum of N350 million belonging to AM-PM Global Network Limited, alleged to have been clandestinely hidden in an account with Stanbic IBTC Bank Plc.
The freezing order was granted by Justice Hadiza Rabiu- Shagari consequent upon an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC) and argued by its lawyer, Rotimi Oyedepo.
According to the nine-paragraph affidavit attached to the ex-parte application and sworn to by an operative of the EFCC, Musbau Yahaya, it was averred that the commission received an intelligence report.
It was further averred that upon investigation, it was found out that Stanbic IBTC Bank was in possession of proceeds of unlawful acts and retained same in the account sought to be attached.
Stating further facts on the matter, the commission said that between June 20, 2012, and November 15, 2013, the respondent (AM-PM Global Network Limited) fraudulently received a total sum of N1,206,950 billion into its Diamond Bank account number 0026718889, being proceeds of unlawful enrichment derived by Patience Jonathan, who was then appointed Permanent Secretary by the Bayelsa State Government.
The deponent also stated that in a bid to dissipate the fund, the respondent opened account number 0016971559 with Stanbic-IBTC Bank, at Walter Carrington Crescent, Victoria Island branch and transferred the sum of N350 million from its Diamond Bank’s account to the account in Stanbic IBTC.
The anti-graft agency said the court order to freeze the account pending conclusion of investigation is needed to prevent the dissipation of the funds.
The EFCC submitted that unless the application is heard and determined, the respondent will tamper with the account sought to be attached, urging the court in the interest of justice to grant the application.
Justice Rabiu-Shagari after listening to the submission made by the EFCC lawyer, ordered the Manager of STANBIC-IBTC Bank, Crescent branch, Walter Carrington, to freeze the sum of N350 million, belonging to AM-PM Global Network Limited.