Ohha Microfinance Bank Limited has given the Economic and Financial Crimes Commission (EFCC) a three-month ultimatum to produce an uncompleted four-bedroom bungalow recovered from a convicted fraudster, warning that failure to do so will result in legal action.
In a pre-action notice dated January 28, 2025, and signed by its legal representative, Olu Omotayo Esq, the bank accused the EFCC of failing to comply with a 2019 court order directing the sale of the seized property and the payment of proceeds to the bank.
The notice, obtained by SaharaReporters on Wednesday, also demands N100 million in compensation should the EFCC fail to locate the missing property.
The case stems from the conviction of Oliver Anidiobi, a former bank manager who was found guilty of diverting N219 million from Ohha Microfinance Bank.
The Enugu Zonal Office of the EFCC had charged Anidiobi to court in 2019, and he was sentenced to eight years in prison.
The court also ordered that three properties acquired with the stolen funds, including the missing bungalow at Centenary City, Enugu, be sold, with proceeds directed to the bank.
However, the bank alleged that when EFCC officials led them to inspect the properties, the agency suddenly claimed it could not identify the bungalow.
The EFCC later sought a court order to interview the convict in prison for clarification, but the property remains unaccounted for more than five years after the ruling.
“How could a landed property recovered from a convict develop wings and disappear into thin air?” the bank questioned in the notice.
The financial institution further accused the EFCC of perverting justice and attempting to deprive it of its rightful compensation, stating that the commission’s failure to act has emboldened Anidiobi, who defrauded the bank while serving as a manager at Sterling Bank.
The notice also serves as a formal step before the commencement of legal proceedings against the EFCC and the Attorney General of the Federation.
“Take notice that the Proposed Plaintiff is Ohha Microfinance Bank Limited, while the Proposed Defendants are: 1) Economic and Financial Crimes Commission 2) Attorney General of the Federation,” the letter stated.
With the expiration of the ultimatum looming, the legal battle between the bank and Nigeria’s anti-graft agency may set a precedent in accountability for recovered assets.
