The EFCC had dragged the defendant before the
appellate court to set aside the judgment of Justice
Adeniyi Ademola of the Federal High Court, Abuja,
that ALL investigations into the alleged petroleum
subsidy fraud against the defendant had been
concluded.
Delivering the unanimous ruling, Justice E. J. Ekanem
said Justice Ademola’s judgment was an undue
interference with the statutory power of the EFCC
which basic function, among others, is to investigate
economic and financial crimes.
Justice Ekanem further held that the EFCC had a
measure of discretion ‘‘to determine whether an
investigation should continue, has been concluded or
be re-opened.’’
Yanaty’s Managing Director, Elias Adeojo, was given
approval by the Petroleum Products Pricing
Regulatory Agency, PPRA to import 30,000 tons of
premium motor spirit, PMS under the Petroleum
Support Scheme in the first quarter of 2011.
The defendant claimed he imported 31, 256 .992
metric tons equivalent to 42, 171, 630 million litres in
March, 2011 via MT Beaver.
Yanaty purportedly discharged the product at Lister
Oil Jetty, Lagos, which is managed by Oando
Marketing Plc.
As a result, Yanaty allegedly received the sum of N2,
731, 942, 103.73 as subsidy for purportedly
discharging 42, 773, 279 million litres of PMS.
However, during investigation, Oando, operator of
Lister oil jetty, disclosed that MT Beaver discharged
only 10, 187.353 metric tons, which is equivalent to
13, 952.926 million litres) of PMS for Yanaty, as
opposed to 31, 256.992 it claimed to have discharged.
Yanaty, therefore, allegedly received the sum of N1,
840,768,720(One Billion Eight Hundred and Forty
Million, Seven Hundred and Sixty Eight Thousand,
Seven Hundred and Twenty Naira) as unearned
subsidy from the Federal Government.
Counsel to the defendant, Michael Anache, had filed
a case against the PPRA and its Executive Secretary
before Justice A. R. Muhammed of the Federal High
Court, Abuja, seeking a declaration that all
investigations against them by law enforcement
agencies had been concluded.
Though the EFCC was not joined in the suit before
Justice Muhammed, judgment was given in favour of
Yanaty.
Also, in an effort to prevent further investigation into
its activities, Yanaty, thereafter, filed another case
against the EFCC before Justice Adeniyi Ademola of
the Federal High Court, Abuja, seeking an
interpretation of the judgment delivered by Justice
Muhammed.
It urged Justice Ademola to rely on the earlier
judgment delivered by Justice Muhammed declaring
that all investigations against it( Yanaty) had been
concluded.
However, while moving his plea at the last sitting,
counsel to EFCC, Sylvanus Tahir, told the court that
EFCC was not joined in the first suit before Justice
Muhammed.
Reacting to today’s ruling, Tahir further said: ‘‘The
ruling today is a vindication of our appeal against the
judgment of the lower court, which made an order
restraining EFCC from further investigation and
interrogation of Yanaty and its officials on the
grounds that investigation against the company had
been concluded.
‘‘We insisted that investigation was ongoing because
the case is clear. EFCC started investigation against
Yanaty in February, 2012. But while it was subsisting,
they surreptitiously filed a case against the PPRA and
its former executive secretary, without joining EFCC.
The core issue in that case was whether the Advance
Payment Guarantee, APG, issued by Sterling Bank Plc
in favour of PPRA still subsisted or had expired. It
has nothing to do with the fact that they had been
investigated or that the issue had been concluded.
Two agencies of government are primarily charged
with this investigation: EFCC and the Special Fraud
Unit. Yes, the House of Representatives Adhoc
Committee on Petroleum (downstream) as well as
the Aig- Imokhoude-Led Committee did some fact-
finding investigations. But, at the end of their
investigations, they turned in their reports to EFCC
for further investigation and that was what EFCC was
on before they went to court.
‘‘The essence of this judgment is that we possess the
power and discretion to investigate cases. It has
started, but not yet concluded. Also, no security
agency has issued any certificate of clearance that,
Yanaty is not culpable.’’
Wilson Uwujaren
Head, Media & Publicity
7th December, 2015

saharareporters.com/2015/12/07/appeal-court-gives-efcc-nod-investigate-yanaty-petrochemical-alleged-n18bn-subsidy-fraud

CC:lalasticlala

Ok

Thanks to the Court of Appeal.

Justice Adeniyi Ademola is a crook and pet boy of the looters. The man needs to be watch and root out complete for been safe-haven for looters.

The Judiciary should contritube their effort in fighting corruption. All looters should be jailed