The Economic and Financial Crimes Commission (EFCC) is contesting a Federal High Court order preventing it from seizing properties linked to an alleged Ponzi scheme operated by Bliss Multinational Perfections Limited and Bribena.
The court, presided over by Justice Isa H. A. Dashen in Yenagoa, Bayelsa State, granted the order on September 4.
However, the EFCC claims it was not notified of the judgment date, effectively denying it a fair hearing.
In a statement on Friday, EFCC’s Head of Media and Publicity, Dele Oyewale, explained that the Commission was caught off guard by the judgment, emphasizing that the EFCC was not served with the court processes.
The properties in question are alleged proceeds of a Ponzi scheme that defrauded 123 petitioners of over N2 billion, promising them a 25 percent return on investment.
The EFCC has vowed to appeal the judgment, citing its commitment to the rule of law and its determination to bring perpetrators of financial crimes to justice.
An earlier decision in a similar case involving the same defendants is currently on appeal at the Port Harcourt appellate court.
Oyewale explained, “The September 4, 2024, judgment by Justice Dashen came as a surprise to the Commission since the EFCC was not notified of the judgment date.
“Denying the EFCC hearing notice was tantamount to blindsiding the Commission, and by extension, a denial of fair hearing in the instant case.
“The Commission is therefore taking steps to appeal the judgment, which is still within the time allowed. An earlier decision by the court in a similar case involving the same defendants is currently on appeal at the appellate court in Port Harcourt.
“Bliss Multinational Perfection and Arch Oyinmiebi Bribena were investigated and indicted for investment fraud in which 123 petitioners lost over N2 billion to the suspects, who promised them a 25 percent return on investment but neither received the promised return nor recovered the invested funds.
“The Commission wishes to reaffirm its commitment to the rule of law and will not willfully violate any court order.”