Justice John Tsoho, of an Abuja Federal High Court has adjourned to March 13, 2017, ruling on applications brought before the court, for variations in an earlier order granted the Economic and Financial Crimes Commission (EFCC) for the forfeiture of the Oil Prospecting License (OPL 245), pending further investigation.
Shell exploration limited and Nigerian Agip Exploration limited had formally challenged the forfeiture order earlier granted for temporary forfeiture of the OPL 245 which is perceived as the largest oil bloc in Nigeria, to the Federal Government, pending investigations by the EFCC.
At the resumption of the matter before Justice Tsoho, Abdullahi Haruna, counsel representing Malabu Oil and Gas, had prayed the court to accept a fresh application, seeking the variation of the earlier court order, but was dismissed by the trial court, on the grounds that the court was not initially aware of same and could not just suspend other matters to officially recognise the fresh application.
However, Babatunde Fagbohun SAN, counsel representing AGIP, questioned the possibility of the order obtained by way of an ex-parte to allow it, despite the provisions of the EFCC Act against such an order, which he said was against their right to fair hearing.
Ajayi Oyinkansola, counsel representing Shell, also prayed the court to dismiss the order on the grounds that the EFCC Act only allows it to carry out such an action on movable assets.
According to him: “What we have here is a mere license and a tangible right, which is incapable of destruction, or incapable of being moved. It is a license over some thousands of square miles of the ocean. The ocean cannot be destroyed, or taken away. There is nothing there that can be put on the seal of the EFCC”.
Johnson Ojogbane, counsel representing the EFCC, in his own argument, said the application for dismissal of the January 26 order cannot be entertained after the matter had been determined; stating further that the OPL 245 is a tangible asset, whose control had the capacity of being moved.
The action of the EFCC therefore, had been in line with its decision to suspend the control of the said asset.
It will be recalled that the EFCC, filed a nine count charge against former Attorney General of the Federation (AGF) and Minister of Justice, Mohammed Adoke, in suit number FHC/ABJ/CR/268/2016 alongside, Dan Etete, former Petroleum Minister, Aliyu Abubakar and his companies: Rocky top resources limited, Imperial Union limited, Novel properties and development company limited, Group construction limited, Megatech engineering limited, as well as Malabu oil and gas over money laundering charges.
Etete was accused of converting various sums ranging from $4million, $401million, $400million and another $401.6million at various dates in August 2011, and transferring same from the Federal Government of Nigeria Escrow account with JP Morgan Chase Bank in London, into the account of Malabu and Gas.
He was also accused of “having reason to know that the aggregate sum of $801,540,000 only, directly represent the proceeds of an unlawful activity of Malabu Oil and Gas limited to wit fraud in respect of the said amount, used the said funds and you thereby committed an offence contrary to section 15(2) of the Money Laundering Act 2011 as amended in 2012 and punishable under section 15(3) of the same Act.
Adoke was also accused of aiding Malabu Oil and Gas and Etete to commit money laundering offence by facilitating the payment of an aggregate sum of $801.5million.
SEYI ANJORIN
