Court Refuses EFCC’s Application for Stay of Execution on Fayose’s Account

A Federal High Court sitting in Ado-Ekiti on Tuesday dismissed an application filed by the Economic and Financial Crimes Commission (EFCC) for stay of execution of the judgment ordering it to unfreeze the two accounts of Governor Ayo Fayose domiciled at Zenith Bank.
The presiding judge, Justice Taiwo Taiwo said the application filed by the EFCC to stay the execution of the matter lacks merit.
The Judge said the court cannot stay action on a judgment that had been executed, adding that the EFCC decision to freeze the governor’s accounts amounts to breach of the provisions of Section 308, 1999 CFRN (amended).
“Once a judgment is being executed, you cannot stay the execution again,” Justice Taiwo said.
The EFCC had on June 21, 2016 froze Fayose’s two accounts with Zenith Bank, alleging that they emanated from the arms funds allegedly siphoned by former National Security Adviser (NSA), Col. Sambo Dasuki (retd).
The EFCC filed an application at the court on December 15, 2016 seeking a stay of execution of the judgment pending the determination of the case at the Court of Appeal.
Justice Taiwo had on December 13, 2016 ruled against the EFCC, saying the commission’s actions violated Section 308 of the 1999 Constitution (as amended) and ordered the anti-graft agency to unfreeze the accounts with immediate effect
A day after the judgment, Fayose stormed the Ado Ekiti branch of Zenith Bank, served the officials of the bank with a copy of the judgment and withdrew N5m from the accounts.

Author: News Editor

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