Counsel to the Osun State Government, Prof. Mubarak Adekilekun, SAN, has faulted the Economic and Financial Crimes Commission’s restriction of the state’s statutory allocation account, insisting that no court order was served on either the government or the affected bank.
Adekilekun made the position known on Friday during an appearance on Channels Television’s Politics Today, where he maintained that the EFCC ought to have obtained and served a court order before imposing ... No Debit restriction on the account.
According to him, the commission’s letter to First Bank was eventually forwarded to the state government, but the bank confirmed that it was not accompanied by any court order.
He said, “The requirement of the law in this regard is that a court order must be issued and served, especially on First Bank. When the letter was forwarded to the Osun State Government, First Bank confirmed that no court order was attached.”
The senior lawyer acknowledged that the EFCC had statutory powers to act when financial crimes were suspected but argued that such powers must be exercised in line with the provisions of the Money Laundering (Prevention and Prohibition) Act.
Adekilekun further rejected the argument that the commission could restrict the account for an initial period without a court order, insisting that the relevant law required judicial authorisation.
He said, “If you read the provision of Section 7 of the Money Laundering Act, it stipulates that a court order must be served. The law is clear on that.”
The counsel also dismissed any suggestion that the restricted account was being used to launder funds, explaining that it was primarily maintained for receiving allocations due to the state from the Federation Account.
His position differed from that of human rights lawyer and SAN, Femi Falana, who had argued that the EFCC could impose a Post No Debit restriction, provided it secured a court order within the period allowed by law.
Falana had referred to a 2022 Court of Appeal decision involving the Benue State Government and the EFCC, which he said recognised the commission’s authority to restrict an account for up to 72 hours pending the acquisition of a court order.
The controversy over the Osun account intensified ahead of the August 15 governorship election after President Bola Tinubu directed the EFCC to seek the withdrawal of the restriction and discontinue the action.
Asked whether the state government would continue with its legal challenge, Adekilekun said the decision would ultimately be determined by his client.
He said, “It depends on what my client thinks, which is the Osun State Government. If they give us the go-ahead, I believe it should be pursued.”