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Court okays EFCC ’s power to freeze suspicious accounts
The Court of Appeal in Abuja has affirmed the power of the Economic and Financial Crimes Commission ( EFCC ) has the power to freeze suspicious accounts.
The court said the anti-graft agency can direct banks to suspend operation of accounts suspected to have been used for criminal activities, or any account of into which slush funds and proceeds of crime have been deposited.
The court, however, said such a directive by the EFCC to banks must be followed by an order of a court for interim freezing, which it must obtain from a competent court, to enable it conduct investigation to ascertain the origin of the funds.
The appellate court said these in a unanimous judgment by its three-man panel on an appeal by Messrs A. R. Security Solutions Limited, which challenged the refusal by a Federal High Court in Abuja to vacate an interim freezing order earlier granted against it.
Justice Binta Nyako of the Federal High Court, Abuja had on January 25, 2016, granted an ex-parte application by the EFCC for, among others, an interim freezing order on A. R. Security accounts with Heritage Bank.
R Security applied to the court to have the order set aside, a request Justice Nyako, in a ruling on April 22, 2016, refused, prompting the company to approach the appellate court.
Justice Mohammed Mustapha, who prepared the lead judgment of the appellate court, resolved the sole issue raised for determination against the appellant.
The issue was whether the trial court was right to have held that the EFCC could obtain an order of court to temporarily freeze the appellant’s account, once the account is the subject of investigation.
Justice Mustapha said while the EFCC was empowered, under sections 28 and 29 of its establishment Act to trace, attach and apply for interim freezing order on such suspicious accounts, the court, under Section 44(2)(k) of the Constitution, was empowered to grant such interim injunction.
He said: “The respondent ( EFCC ) clearly bears the burden of establishing that there is a prima facie evidence that the property in issue is liable to be forfeited on account of its being proceed of crime.
“That burden is discharged once there is an arrest for an offence under the Act ( EFCC Act), and the respondent traces the assets and attaches the property of the accused person acquired as a result of economic and financial crimes. That done, the respondent is entitled to an interim attachment order by the court.”
Justice Mustapha agreed with the appellant that the EFCC must show that the origin of the suspicious funds is illegal.
He added: “If bank accounts have to be investigated with any degree of success for the purpose of tracing criminality in transactions, how else can that be done without exercising some degree of control over the account?
“It stands to logic and common sense that any serious investigation of criminality in a bank account has to first and foremost start with taking control of the bank account or at least putting restraints on the account; anything short of that will be quixotic, because funds in the account investigated will simply take a flight. That is the logic behind sections 28 and 29 of the Act.
“Prima facie proof starts, for the purpose of the Act, with arrest of the accused person for financial and economic crimes, which now denotes, at this stage, that the monies in the account are likely proceeds of crimes, and therefore, liable to forfeiture, thus necessitating the grant of the interim order.
“It is for these reasons that the money in the accounts is fair game, because that attachment and proper investigation of such accounts will assist the respondent (EFCC) in prosecuting the accused successfully or consequently lead to the discharge of the order, depending on how the investigation goes.
“The need for credible evidence, showing the money to be proceeds of crime, underscores the necessity for the respondent’s mandate to ‘immediately trace and attach’ the property.”
He added that the grant of the interim order by the court was to enable the EFCC conduct a holistic investigation on the account to enable it establish whether or not the origin of the funds in the affected account was illegal.
“It has to be pointed out that ultimately, it is for the same reason that the grant of interim order becomes necessary, as it explains the necessity for the respondent to have, not only access, but control of the account, by having it frozen, anything else might end up being pyrrhic for the respondent,” Justice Mustapha said.
Other members of the panel – Justices Abubakar Datti Yahaya and Tani Yusuf Hassan – agreed with the lead judgment a copy of which was seen by The Nation.
The lawmaker representing Ibarapa East/Ido Federal Constituency in the House of Representatives, Engr. Aderemi Oseni, has mourned the death of a chieftain of the All Progressives Congress (APC) in Oyo State and former member of the Oyo State House of Assembly, Hon. Akeem Abimbola Oladipupo, popularly known as Able, describing his demise as a painful loss to the progressive family.
Oladipupo, who represented Ibadan North-West Constituency in the Oyo State House of Assembly, was widely regarded as a grassroots politician and committed party loyalist until his passing.
Oseni, who is also the Chairman, House Committee on Federal Roads Maintenance Agency and the APC candidate for Oyo South Senatorial District, said the late politician’s death had created a vacuum within the party and among those who benefitted from his unwavering commitment to public service.
In a condolence statement issued on Monday by his Media Aide, Idowu Ayodele, and made available to journalists in Ibadan, the Oyo State capital, the federal lawmaker described the late Oladipupo as a dependable progressive, humble political actor and loyal party stalwart whose impact would remain indelible.
He said the deceased dedicated his life to serving humanity, strengthening the progressive movement and supporting the aspirations of many at the grassroots.
Oseni said, “The death of Hon. Akeem Abimbola Oladipupo (Able) came to me as a rude shock. Oyo State and the progressive family have indeed lost a committed, loyal and selfless leader whose passion for service, humility and dedication to the people stood him out.
“He was not just a politician but a bridge-builder, a dependable ally and a grassroots mobiliser who believed strongly in the ideals of our great party. His contributions to the growth of the APC in Oyo State and his service to humanity will remain unforgettable.”
The APC senatorial candidate noted that the late former lawmaker remained steadfast in promoting peace, unity and political development, adding that his simplicity and accessibility endeared him to many across political divides.
According to Oseni, the late politician’s legacy of service and sacrifice would continue to inspire younger politicians and party faithful.
He, however, urged members of the APC, associates and family members of the deceased to take solace in the remarkable life he lived and the positive impact he made during his lifetime.
Oseni also prayed for the repose of the deceased’s soul and for God to grant his family the fortitude to bear the painful loss.
State governors have proposed a new national minimum wage of N100,000 for Nigerian workers as part of efforts to cushion them from the biting effects of inflation and the rising cost of living.
Governor AbdulRahman AbdulRazaq of Kwara State, who is also the Chairman of the Nigeria Governors’ Forum (NGF), disclosed the proposal on Saturday in a post by the state government’s official Facebook page. He said the move aims to improve workers’ welfare while ensuring that government finances remain sustainable.
“State governments recognise the urgent need to improve workers’ welfare in response to the current economic realities facing Nigerians,” AbdulRazaq said.
“We are actively engaging with the Federal Government and organised labour to arrive at a wage structure that is fair to workers and sustainable for government finances.”
The NGF chairman explained that ongoing discussions are focused on balancing the need to boost workers’ purchasing power with the capacity of governments to deliver essential public services and development projects.
“The goal is to improve the living conditions of workers while ensuring that states can continue to meet their obligations and sustain projects that directly impact citizens,” he added.
The proposed N100,000 minimum wage is expected to intensify national debates on salaries, inflation, and broader economic reforms as Nigerians continue to contend with rising food prices, transportation costs, and other living expenses.
Currently, Nigeria’s statutory minimum wage stands at N70,000 per month. Some states, including Lagos, Rivers, and Imo, are already paying above the national benchmark to support workers amid the country’s economic challenges.
Meanwhile, the Nigeria Labour Congress (NLC) has continued to call for a comprehensive review of salaries, insisting that workers deserve a living wage that reflects present-day economic realities rather than merely guaranteeing survival.
The average retail price paid by consumers for Premium Motor Spirit, popularly known as petrol, rose to N1,532.93 per litre in April 2026, representing a 23.69 per cent increase compared to the N1,239.33 recorded in the corresponding period of 2025, findings by the National Bureau of Statistics (NBS) have shown.
The sharp rise in petrol prices came amid mounting inflationary pressure and worsening living costs, with Nigerians grappling with soaring transportation and food expenses that have continued to shrink household purchasing power.
The NBS disclosed this in its Premium Motor Spirit (Petrol) Price Watch for April 2026, released on Friday.
The report further showed that on a month-on-month basis, petrol prices rose by 18.97 per cent from N1,288.54 recorded in March 2026, underscoring persistent volatility in the downstream petroleum market.
A breakdown of prices across states revealed that Yobe recorded the highest average retail price for petrol at N1,599.05 per litre during the review period.
Edo and Bauchi followed closely with average prices of N1,595.74 and N1,589.07, respectively.
However, Niger residents paid the least for petrol at an average of N1,403.89 per litre, while Sokoto and Katsina recorded N1,404.16 and N1,406.28 respectively.
At the zonal level, the South-South recorded the highest average retail price at N1,566.76 per litre, while the North-West posted the lowest at N1,508.81.
The latest petrol price increase comes as millions of Nigerians continue to battle the ripple effects of rising inflation, with higher energy costs worsening transportation fares and the prices of essential commodities.
Similarly, the NBS said the average retail price for refilling a 5kg cylinder of Liquefied Petroleum Gas, also known as cooking gas, rose by 13.73 per cent month-on-month to N8,706.93 in April 2026 from N7,655.73 recorded in March.
On a year-on-year basis, the price increased by 10.42 per cent from N7,885.60 recorded in April 2025.
Lagos recorded the highest average price for refilling a 5kg cylinder at N9,745.10, followed by Nasarawa at N9,451.70 and Bayelsa at N9,422.74.
In contrast, Anambra recorded the lowest average price at N7,204.76, while Ondo and Ogun followed with N7,239.49 and N7,825.75, respectively.
At the regional level, the North-West recorded the highest average retail price for refilling a 5kg cylinder at N9,025.07, followed by the North-East at N8,847.16, while the South-East posted the lowest average price at N8,224.37.
Also, the average retail price for refilling a 12.5kg cylinder of cooking gas increased by 13.89 per cent month-on-month to N22,382.20 in April 2026 from N19,652.83 in March.
Compared to April 2025, the price rose by 10.43 per cent from N20,268.06.
According to the NBS LPG Price Watch for April, Katsina recorded the highest average retail price for refilling a 12.5kg cylinder at N25,596.71, followed by Kogi at N24,558.25 and Gombe at N24,438.97.
Ogun recorded the lowest average price at N19,564.36, while Bauchi and Anambra followed at N20,178.87 and N20,511.90 respectively.
The North-West recorded the highest zonal average retail price for refilling a 12.5kg cylinder at N23,276.95, followed by the North-Central at N22,865.29, while the South-East posted the lowest average at N21,060.92.
The latest figures signal growing pressure on household energy costs, raising concerns over the implications for inflation and the cost of living in the coming months.
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