A Federal High Court sitting in Lagos today granted an order temporarily freezing the sum of N350 million belonging to AM-PM Global Network Limited, alleged to have been clandestinely hidden in an account with Stanbic IBTC Bank Plc.
The temporary freezing order was granted by Justice Hadiza Rabiu- Shagari consequent upon an expate application filed by the Economic and Financial Crimes Commission(EFCC) and agued by it lawyer, Mr Rotimi Oyedepo.
According to a nine paragraphs affidavit attached to the exparye application and sworn to by an operative of EFCC, Mr Musbau Yahaya, it was averred that the commission sometimes ago received a damning intelligence report .
It was further averred that upon investigation, it was found out that Stanbic IBTC Bank was in possession of proceeds of unlawful act and retained same in the account sought to be attached.
Stating further facts on the matter, the commission stated that between June 20, 2012 and November 15, 2013, the respondent (AM-PM Global Network Limited), fraudulently received a total sum of N1, 206, 950 billion, into its Diamond Bank account number 0026718889, being proceeds of unlawful enrichment derived by Mrs. Dame Patient Jonathan, who was then appointed Permanent Secretary by the Bayelsa State Government.
The deponent also stated that in a bid to dissipate the fund, the respondent opened account number 0016971559 with Stanbic-IBTC Bank, at Walter Carrington Crescent, Victoria Island branch.
It was also averred that out of the total sum of N1, 206, 950 billion, AM-PM Global Network Limited transferred the total sum of N350 million from its Diamond Bank’s account to the account sought to be attached in Stanbic IBTC in a desperate bid to dissipate the funds.
The anti-graft agency said the court order to freeze the account pending conclusion of investigation is needed to prevent the dissipation of the funds.
The EFCC submitted that unless the application is heard and determined, the respondent will tamper with the account sought to be attached., urging the court in the interest of justice ito grant the application .
Justice Rabiu-Shagari after listening to the submission made by the EFCC lawyer, ordered the Manager of STANBIC-IBTC Bank, Walter Carrington Crescent branch, to in the interim freeze the sum of N350 million, belonging to AM-PM Global Network Limited kept in the bank.