EFCC Has Legal Right To Freeze Accounts For Three Days – Tietie

Legal practitioner and public affairs analyst, Frank Tietie, has defended the Economic and Financial Crimes Commission (EFCC) over its decision to restrict an account belonging to the Osun State Government, insisting that the anti-graft agency has the legal authority to act against accounts suspected of being linked to illicit transactions.

Tietie made the assertion during an interview on Arise Television on Friday while reacting to the controversy surrounding the EFCC’s action shortly before the Osun State governorship election.

The controversy intensified after President Bola Tinubu directed the commission to take steps to vacate the court order relating to the restriction of the state government’s account.

Reacting to the development, Tietie argued that the presidential intervention could amount to interference with the operations of a law enforcement agency.

According to Ireporter Online, the legal practitioner maintained that the EFCC’s powers are supported by provisions of the EFCC Establishment Act and the Money Laundering Act, as well as previous judicial decisions concerning the commission’s authority to restrict suspicious accounts.

Tietie cited Section 34 of the EFCC Act and Section 7(6) of the Money Laundering Act in support of his position, noting that the commission could take immediate action where there are reasonable grounds to suspect unlawful financial activities.

He maintained that the EFCC was not required to obtain prior approval or consult other authorities before restricting a bank account, provided its action remained within the legally prescribed period.

The analyst argued that the commission could freeze a transaction or account for up to three days while taking further steps in accordance with the law.

Tietie therefore insisted that the EFCC Chairman, Ola Olukoyede, and the commission acted within their statutory powers when the Osun State Government account was restricted.

He also rejected arguments that the approaching Osun governorship election should have prevented the anti-graft agency from investigating suspicious financial activities.

According to him, the proximity of an election should not stop law enforcement agencies from acting when they have reasonable grounds to suspect financial crimes.

Tietie argued that if security or law enforcement authorities discovered that public funds were being diverted for criminal purposes, including alleged terrorist financing, failing to intervene simply because an election was approaching would amount to a serious dereliction of duty.

He maintained that the EFCC must be allowed to carry out its statutory responsibilities independently, stressing that the fight against financial crimes should not be suspended because of political activities or an election season.