Stop Sealing up Suspects’ Assets, Falana Tells EFCC

A Senior Advocate of Nigeria (SAN), Femi Falana, on Sunday advised the Economic and Financial Crimes Commission (EFCC) to stop sealing up assets belonging to suspects of financial crimes.

The lawyer gave the advice in Ikeja at the presentation of ‘Compendium of High-Profile Corruption and Financial Crimes Cases in Nigeria’.

The compendium, which highlights high-profile corruption cases and their implications on the economy, was compiled by Human and Environmental Development Agenda (HEDA), a civil society organisation.

Falana said sealing up properties while cases are still pending in courts does not do the public any good as the assets waste away with no economic value.

The lawyer said it would be good if those assets were put into use by the EFCC, pending the final determination of the cases in which they were linked.

“I do not subscribe to the locking up of assets or properties while a case is still pending in court. I do not think the EFCC or other anti-corruption agencies should do that.

“For me, you are not doing the public any good by just locking up properties and by putting your inscription: ‘Under Investigation’.

“Why don’t you allow it to function so that the place can benefit the people, because it is already acquired for public purpose?

“And this should go for all buildings too. People are looking for accommodation and you just lock up blocks of flat over cases still pending in court.

“And these cases may be in court for years, and by the time the cases are concluded, the premises you have sealed no longer have their value.

“The EFCC was set up to revive businesses not to liquidate them. You liquidate businesses by just getting some court orders. To me, that is not the way to fight corruption,” he said.

Falana added that the sight of seized vehicles wasting away at EFCC offices is a cause for concern, adding that the assets could have been put into economic use.

He, however, suggested that the vehicles could be sold by the EFCC to stop decay while the proceeds are kept in an account pending the determination of the cases involving their owners.

“If the case is finally resolved in favour of the suspects, they should be given the money, if not, the money is forfeited to the government.

“That, I think, is better than allowing these vehicles to waste away while cases are being investigated or pending in court,” he said.

Falana said the fight against corruption could not be genuinely fought by the government, but by Nigerians themselves.

He therefore urged all stakeholders to be vigilant and play their part to confront the menace of corruption.

In his speech, Publisher of an online news medium, Premium Times, Mr. Dapo Olorunyomi, commended HEDA for the compendium, saying it would add value to the war against corruption.