“Court Lifts Freezing Order on Micoz Bluelink Enterprise’s Account, Cites Lack of Evidence”

A Federal High Court in Abuja has set aside an interim order freezing the funds in Micoz Bluelink Enterprise’s bank account, after ruling that the Economic and Financial Crimes Commission (EFCC) failed to provide adequate evidence that the funds were proceeds of crime.

Justice Emeka Nwite, delivering the judgment, sided with the applicant, Akpasi Oziegbe (trading as Micoz Bluelink Enterprise), who had filed an application seeking the removal of the freezing order placed on his company’s account. The judge noted that the EFCC did not present sufficient evidence to prove that the funds in question were obtained through fraudulent means or related to any crime, either in Nigeria or elsewhere.

The case stems from the EFCC’s motion for an interim order, filed after Micoz Bluelink received a transfer of $163,592 on July 14, 2022, from the law firm of Steve J. Mandel. The funds were transferred through UBA Plc, but the transaction raised red flags when CitiBank, New York, sent a SWIFT message asking UBA to recall the funds, citing “unjust enrichment” and “fraudulent transfer.”

The EFCC, in its affidavit, stated that it had contacted the American Embassy and the Federal Bureau of Investigation (FBI) for assistance in investigating the origin of the funds. However, the investigation had not yet concluded at the time of the ruling.

Micoz Bluelink, in its defense, denied the allegations and argued that the EFCC’s application was baseless and lacked concrete evidence. The company explained that the funds were related to the purchase of miniature ceramic artifacts and contested that the EFCC’s reliance on vague terms like “unjust enrichment” was insufficient to justify the freezing order.

Justice Nwite, in his ruling, agreed with the company’s arguments, stating that the EFCC had failed to meet its burden of proof and had not provided any direct or cogent evidence to link the funds to criminal activity. The judge pointed out that the EFCC had not relied on any formal criminal complaint, court order, or charge, and simply sought the freezing order without reasonable suspicion of a crime.

The court concluded that continuing the freezing order would violate the company’s constitutional rights to a fair hearing and access to its property. Justice Nwite, therefore, discharged the order, allowing Micoz Bluelink to access the funds in its account.