Oil magnate files ₦5bn lawsuit against EFCC for being declared wanted
Henry Akinduro, Chief Executive Officer of Global Signature Hotel and Total Grace Group Limited, has challenged the Economic and Financial Crimes Commission’s (EFCC) decision to declare him wanted for alleged fraud.
Akinduro asserts that the anti-graft agency has violated his fundamental human rights.
The EFCC announced on its X handle on Saturday that Akinduro is wanted in connection with fraud allegations made by Mr. Femi Olushakin.
The businessman has filed a N5 billion lawsuit against the EFCC for allegedly unlawfully declaring him wanted.
In the suit submitted on Wednesday at the Federal High Court in Lagos, Akinduro stated that the anti-corruption agency acted without judicial intervention, constitutional safeguards, or a court order.
Akinduro’s legal team, led by prominent lawyer Olakekan Ojo (SAN), described the fraud allegations as baseless and ill-motivated. They argued that the petition against him was an attempt to criminalize a contractual disagreement related to a business arrangement with Olushakin.
The legal team noted that the matter was already in court prior to the EFCC’s declaration, as both parties were engaged in a civil lawsuit (Suit No: I/875/2024) concerning their investment agreement.
“Our client considers this online publication detrimental to his reputation and views it as an unjustified attack by the EFCC,” the statement read.
Akinduro’s legal team emphasized that he has addressed the disputes through appropriate legal channels rather than engaging in fraudulent activities.
The suit filed by Akinduro claims harassment through the misuse of state resources and urges the courts to confirm that their disagreements are purely civil in nature.
Meanwhile, Olushakin’s counterclaim seeks substantial sums purportedly owed for investment returns, adding complexity to the ongoing legal battle.
Maintaining his innocence, Akinduro has called for a fair legal process, asserting that he is presumed innocent until proven otherwise. His legal team is committed to correcting what they describe as unfounded and malicious allegations stemming from their investment conflicts.
“While we acknowledge that the online publication may have caused significant concern among our client’s friends and business associates, it is crucial to set the record straight. The fraud allegations are baseless and aimed at inflicting severe damage on the hard-earned reputation of Dr. Henry Akinduro,” the statement read.
The legal team stated, “The commercial and contractual disputes had previously been referred to the appropriate court by the parties involved, prior to the Economic and Financial Crimes Commission publishing our client’s name on its wanted list.
“In Suit No: I/875/2024, Total Grace Group Ltd and Dr. Henry Akinduro v. Femi Olushakin, our client seeks a declaration that the relationship between the claimants and the defendant is civil and contractual in nature. The ongoing threats, harassment, and intimidation directed at the claimants by the defendant, as well as the use of state security apparatus in this disagreement, are wrongful and unlawful.
“Our client, Dr. Henry Akinduro, has consistently demonstrated his commitment to the investment agreement through responsible correspondence, letters, and further replies from our office as his legal representatives.
“Furthermore, our client has taken additional legal steps to firmly establish that the allegations of fraud against him are unfounded, baseless, and malicious.
“It is essential to emphasize that our client is presumed innocent until proven otherwise, as per constitutional law.
“At this time, we expect that your perception of our client will reflect this presumption of innocence while we await the honorable court’s decision regarding the rights and liabilities in the civil suit. Mr. Femi Olushakin has unilaterally and unlawfully framed this matter as a criminal action, in a deliberate attempt to undermine the business interests and reputation of our client, Dr. Henry Akinduro.
“Our client reaffirms his confidence in the judicial process, believing it will ultimately vindicate him.”
Proofreading by Uchechi Ojo, Sub-editor at Neptune Prime.
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