The Federal High Court in Abuja has overturned a September 9, 2024, order freezing the account of Micoz Bluelink Enterprise, a Nigerian firm holding $163,592.
In a ruling on Wednesday, Justice Emeka Nwite criticized the Economic and Financial Crimes Commission (EFCC) for failing to present credible evidence of fraud to justify the account freeze.
Justice Nwite upheld Micoz Bluelink’s argument that, in the absence of any bank report indicating criminal activity, the funds could not be deemed proceeds of crime.
The court found that the EFCC had no reasonable suspicion of wrongdoing by the firm and merely sought the order to penalize it.
Justice Nwite emphasized that the EFCC bore the legal burden of proving its application to freeze the account was lawful. However, the agency failed to demonstrate that the funds were linked to fraud or any criminal activity in Nigeria or elsewhere.
He noted that the EFCC did not base its application on a criminal complaint, court order, charge, or indictment, but simply sought to restrict the firm’s access to its account.
Vacating the order, the judge ruled that Micoz Bluelink Enterprise has a constitutional right to access its funds, as no evidence has linked it to any criminal conduct.
