The Economic and Financial Crimes Commission has vowed to appeal an order issued by Justice Isa Dashen of the Federal High Court in Bayelsa State against the Commission’s Chairman, Ola Olukoyede.

Justice Dashen stated that Olukoyede risks imprisonment for allegedly refusing to comply with a ruling in a suit filed against the EFCC by Bliss Multinational Perfection and the Chief Executive Officer of Baraza Multipurpose Cooperative Society Limited, Oyinmiebi Bribena.

The judge declared the seizure and sealing of the company’s properties and those of Bribena by the EFCC as unlawful, stating they were not proceeds of crime.

However, in a statement issued on Friday by the EFCC’s Head of Media and Publicity, Dele Oyewale, the Commission expressed surprise at the order, adding that it had not been informed of the judgment date.

Oyewale added that the lack of notification amounted to a denial of fair hearing in the case.

Oyewale said, “The attention of the Economic and Financial Crimes Commission has been drawn 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 the Federal High Court in Yenagoa, Bayelsa State.

“The order restrains the EFCC from seizing properties belonging to Bliss Multinational Perfections Limited and Bribena, which are alleged to be proceeds of investment fraud, also known as a Ponzi scheme.

“It is important to point out that the judgement of 4th September 2024, by Justice Dashen, came as a surprise to the Commission as the EFCC was not notified of the judgement date.

“The Commission is, therefore, taking steps to appeal the judgement, which is still within the allowed time,” the statement read.

Oyewale also stated that a previous decision by the court in a similar matter involving the same defendants had been appealed, saying,

“An earlier decision by the court in a similar case involving the same defendants is currently under appeal at the appellate court in Port Harcourt.

“The Commission wishes to once again reaffirm its commitment to the rule of law and will not willfully violate any court order,” he said.

Oyewale noted that the defendants had been investigated and indicted for investment fraud amounting to N2 billion, affecting over 123 victims.

He said, “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 had promised them a 25 per cent return on investment. However, they neither received the promised return nor recovered their invested funds.” (The PUNCH)

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