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HEDA Tasks EFCC To Investigate, Prosecute Financial Misappropriation In Banking Sector

Independent 3 days ago
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… To Appeal Court Ruling On Impact Of ATC, MTN’s Planned New Base Stations Construction

Seyi Taiwo-Oguntuase& Titilope Joseph

The Human and Environmental Development Agenda (HEDA Resource Centre) has called on the Economic and Financial Crimes Commission (EFCC) and other anti-graft agencies to direct their attention to the Nigerian banking sector, urging them to investigate and prosecute instances of financial misappropriation and money laundering to the full extent of the law.

In a statement signed by Olanrewaju Suraju HEDA Chairman, stated that this will restore integrity to the sector and reinforce the message that corruption will not be tolerated.

HEDA while commending the EFCC, for their steadfastness and resilience in securing justice in the case of Francis Atuche, the former Managing Director of Bank PHB Plc, convicted for a N25.7 billion fraud scheme, stated that on Friday, 28th June, 2024, the Supreme Court of Nigeria delivered a final verdict, upholding the conviction of Francis Atuche.

According to him, in a unanimous decision, Justice M.A.A. Adumein ruled that Atuche failed to provide sufficient evidence to overturn his conviction, which was initially handed down by the trial court and subsequently affirmed by the Court of Appeal.

“This judgment brings to an end a protracted legal battle that spanned over 13 years.”

The anti-corruption group praised the EFCC’s legal team for their diligent prosecution of the case.

“Despite the long road to justice, their consistency and resilience have ensured that justice was ultimately served. This victory is a significant milestone in the fight against corruption in Nigeria and serves as a deterrent to those who might consider engaging in financial crimes,” Suraju stated.

HEDA emphasized the importance of the EFCC adopting the same rigorous approach to all its ongoing cases, adding that the commission’s consistent commitment and tenacity are essential in the pursuit of justice.

HEDA thereby reiterated its support for the EFCC and its efforts in combating corruption.

“We remain committed to working alongside all stakeholders to promote transparency, accountability, and good governance in Nigeria,” Suraju said.

Meanwhile, the Incorporated Trustees of HEDA indicate that they have appealed the judgment of the Federal High Court, Lagos, which on Friday, June 21, 2024 struck out its application seeking to stop the Federal Ministry of Environment, ATC Nigeria Wireless Infrastructure Limited and MTN Communications Plc from going ahead with the planned construction of new base stations in close proximity to the existing sites operated by other infrastructure operators.

Suraju, while reacting to the verdict, in a statement on Thursday, said the decision of the Federal High Court was very odd and inconsistent with its earlier position that the Plaintiff had a cause of action in the preliminary objection brought by MTN on the same facts before the honourable court.

He added that coming to conflicting conclusions on  two similar applications  exposes the decision of the trial judge, Hon. Justice Yelim Bogoro to a necessary challenge at the Court of Appeal which has been filed by HEDA Resources Centre.

“We see this decision of the Federal High Court as very odd and inconsistent with the law. Reason is the fact that the same trial judge had admitted that there was a cause of action on the earlier application on the same set of facts brought by the fifth respondent, MTN.

The court also in another application by the fourth respondent, ATC, which came much later also affirmed the fact that HEDA Resource Centre, the Plaintiff had a cause of action. It is strange to us that His Lordship suddenly shifted his earlier position by saying there was no cause of action when nothing material has changed’’, he stated. 

Suraju, while noting that given the noticeable inconsistency in the court ruling and possible grounds for appeal, said the judgment was also suggestive that a cause of action would arise if permits are issued to the defendants (ATC and MTN) or they take steps toward building new base station sites.

HEDA also said that the court ruling was indicative of the Federal Ministry of Environment’s position that its action should not be the basis of the suit, maintaining that the role of the ministry as a critical agency responsible for ensuring a safe, liveable environment could not be downplayed. 

Suraju said it is interesting to read narratives in the media that we are acting as a proxy for IHS.  We are an independent body and anyone can check our history of advocacy, including our history with MTN Nigeria dating back many years.

Justice Bogoro, it would be recalled, had in March 2024, dismissed two applications filed by ATC and MTN challenging the competence of the suit filed by HEDA Resource Centre and affirmed the latter’s locus to file the case against the two companies.

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