Professor Mubarak Adekilekun (SAN), representing the Osun State Government, maintains that neither the state nor First Bank received the necessary court authorization to justify freezing the state’s statutory allocation account. Speaking on Channels Television’s Politics Today, Adekilekun highlighted that while the EFCC sent a letter to the bank, the financial institution confirmed that no judicial order was included with the correspondence.
Adekilekun argued that the EFCC’s actions must align with the Money Laundering (Prevention and Prohibition) Act. He insisted that Section 7 of this legislation explicitly mandates the service of a court order before a Post No Debit (PND) restriction can be placed on an account. He refuted the suggestion that the commission can unilaterally freeze accounts for 72 hours, emphasizing that judicial clearance is a prerequisite.
Addressing the nature of the account, the legal counsel clarified that it is strictly utilized for receiving federal allocations, dismissing claims of money laundering. This stance counters recent arguments from human rights lawyer Femi Falana, who asserted that the EFCC maintains the authority to temporarily restrict accounts under specific appellate precedents.
President Bola Tinubu has since urged the commission to pursue the vacation of the restriction following concerns regarding the timing relative to the August 15 governorship election. Regarding potential further legal action, Adekilekun indicated that the state government will decide on future steps.
