Counsel to the Osun State Government, Prof. Mubarak Adekilekun, SAN, has said neither the state government nor First Bank was served with a court order before the Economic and Financial Crimes Commission, EFCC, restricted the state’s statutory allocation account.
Speaking on Channels Television’s Politics Today, Adekilekun argued that Section 7 of the Money Laundering (Prevention and Prohibition) Act requires a court order to be formally issued and served on the financial institution before an account can be restricted.
“The letter was forwarded to Osun State Government, where First Bank confirmed that no court order was attached to it,” he stated. “You can’t just go in and say you are using power vested in the Chairman of EFCC to put a PND on a State Government’s statutory account.”
Adekilekun dismissed allegations of money laundering, noting the account is used solely for Federation Account disbursements.
The development comes amid differing views. Human rights lawyer Femi Falana, SAN, said the EFCC acted within its mandate, citing precedents for temporary restrictions.
President Bola Tinubu has directed the EFCC to approach the court to vacate the restriction ahead of the August 15 governorship election.
