OPEN LETTER TO THE PEOPLE'S COURT


THE TRUTH OF THE MATTER

THE CONSPIRACY BETWEEN ECONOMIC FINANCIAL CRIMES COMMISSION (EFCC) AND BANKS ON THE COURT JUDGEMENT OBTAINED BY CASH FLOW ON A CASE INSTITUTED AGAINST THE EFCC/THE NIGERIAN POLICE .

Let me use this medium to express my utmost grievance and disappointment with EFCC and the Nigerian Police in dishonouring the court judgment of the Federal High Court on the case filled by Cash Flow ABI Network Ltd and its chairman, Philemon Gora against EFCC and the Nigerian Police.

By law, Cashflow Abi network Ltd was registered since 2011 with CAC and having its headquarters in No: 21 Apollo Crescent, Jos, Plateau state with physical branch offices in kaduna, Lafia, Owerri, Enugu, Lagos , Ibadan, Abakiliki, Gombe, kano, Uyo, Sokoto, Ilorin, Ibadan and kebbi. The same company had applied to Security and Exchange Commission (SEC) as funds portfolio manager and investment adviser but yet to receive approval for the process is ongoing .

We could recall that sometimes ago the Security and Exchange Commission (SEC) had filled a petition to the Inspector General of Police (IG-P) and the Economic Financial and Crimes Commission (EFCC) to investigate the business activities of Cashflow ABI Network Ltd. and its Chairman Philemon Gora for allegedly running an illegal financial institution.

EFCC directed all corporate bank accounts of Cashflow Abi Ltd and that of its Chairman to be frozen with all depositors /investors funds trapped.
Cashflow and its Chairman, Philemon Gora then instituted a case in court in suit N0: FHC/ABJ/CS/7/2013 against EFCC and the IG-Police.
A judgement was made in the above suit mandating the applicants (Cash Flow ABI Network Ltd and Philemon Gora) and the defendants (the EFCC and the IG-P) to setup a committee with the purpose of unfreezing the accounts of the applicants and refunds of deposits to clients/investors of Cash Flow Abi Network Limited.

The court based its judgement on the overriding interest of the public and the poor investors who were mainly peasants investing their life serving in the scheme. The court also understood the social and security breaches that may ensue should such investors loose their investments/Money.

The executive Directors confirmed that there is enough money in the frozen banks accounts to pay the clients of Cash Flow ABI Network Ltd,however efforts of the Board of Directors of Cashflow to liaise with EFCC to implement the court judgment in order to ease the suffering of the poor investors of this company prove abortive and fell on the deaf ears of the EFCC for the past four years.

EVENTS ON THE BURNER:


Recently, the Economic and Financial Crimes Commission, EFCC on July 11 2016, convicted Pastor Emmanuel Markus Anga and Atin Victor Generous before Justice Abubakar Jauro of Gombe State High Court for five hundred thousand naira (N500, 000.00) that was invested in Cashflow Abi Ltd. This is part of collateral damage done to staff by aggrieved investors. Other staff of Cashflow Abi network Ltd. are suffering intimidation, physical abuse and threat to life by aggrieved investors of the scheme. The continuous action of the EFCC by not implementing the court order may generate into security issues of unimaginable scale.

Let us be reminded that a Federal High Court had also on 1st March 2013 given a restraining order to SEC, EFCC and ICPC not to molest or intimidate Philemon Gora and his software company from carrying out their legitimate business. That order has not been vacated till date.

It is pertinent for us to know that Philemon Gora is an online trader, a financial analyst and expert in financial technology. He is a shareholder in BITQUENCE, a globally accepted online platform for financial transaction exchange.
The public should also be aware that there were fraudulent and illegal withdrawal of monies in bank accounts of Cash Flow ABI Limited and personal account of Philemon Gora after EFCC had frozen the accounts.

How can monies be withdrawn in accounts that are supposedly frozen by EFCC? I believe these fraudulent activities were carried out in connivance between staff of the bank and relevant government security agencies. I therefore seek the attention of the Press,The public courts ,Human and Civil rights advocates to please help us investigate and make enquiry into these activities through bank statements from these accounts to ascertain individuals behinds these frauds.

Another issue is the summoned on cases of garnishee order. The conspiracy of blocking the monies of peasant investors is barbaric ,devilish and inhuman .If the bank should block these monies, how will the so-called garnishee order benefit thousands of investors who are waiting to receive their investments? I demand the so-called garnishee order be made public.

The Presidency under which all Federal agencies are supervise including the EFCC should ensure that she grant access to Cashflow accounts so that poor investors will be settled. I can confidently say that more than 600,000 Nigerians who directly or indirectly depend on the investors will have their hope restored if government agencies will comply with the court order so that investors of Cash Flow will be paid.

I will continue to do my best in growing the economy. Attached are copies of court judgement for your conviction.

Engr.Dr Philemon Gora
Chairman CASHFLOW ABI Nig Ltd.