The Economic and Financial Crimes Commission has reacted to a trending report in the media that Ola Olukoyede, the Commission’s Executive Chairman risks committal to prison for alleged violation of the orders of Justice Isa H. A. Dashen of a Federal High Court sitting in Yenagoa, Bayelsa State.
The said order restrains the EFCC from seizing properties belonging to Bliss Multinational Perfections Limited and Bribena, which are alleged proceeds of investment fraud, otherwise known as Ponzi scheme.
It is important to point out that the 4th September 2024 judgment by Justice Dashen came to the Commission by surprise as the EFCC was not put on notice of the judgment date.
Denying the EFCC hearing notice was tantamount to blind-siding the Commission and, by extension, a denial of fair hearing in the instant case. The Commission is therefore taking steps to appeal the judgment, which is still within the time allowed. An earlier decision by the court in a similar case involving the same defendants is currently on appeal at the appellate court in Port Harcourt.
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The Commission wishes to once again reaffirm its commitment to rule of law and will not wilfully violate any court order.
Bliss Multinational Perfection and Arch Oyinmiebi Bribena, the Chief Executive Officer of Baraza Multipurpose Cooperative Society Limited, were investigated and indicted for investment fraud in which 123 petitioners lost over N2 billion to the suspects who promised them 25 per cent return on investment but neither got the promised return nor recover the funds invested.