In a dramatic turn of events, Ohha Microfinance Bank Limited has issued a stern ultimatum to the Economic and Financial Crimes Commission (EFCC), demanding that the anti-graft agency produce an uncompleted four-bedroom bungalow seized from a convicted fraudster—an asset that has reportedly gone missing under the EFCC’s watch.
The bank, in a pre-action notice dated January 28, 2025, and obtained by SaharaReporters, gave the EFCC a three-month deadline to locate and account for the missing property. Should the agency fail to comply, the bank vows to take legal action, seeking N100 million in damages.
The notice, signed by legal representative Olu Omotayo Esq., reminded the EFCC Chairman of a previous petition dated February 9, 2024, urging the agency’s Zonal Office to address the matter.
At the heart of the controversy is the conviction of former Sterling Bank manager, Oliver Anidiobi, who was found guilty of fraudulently diverting N219 million from Ohha Microfinance Bank. In a 2019 ruling, a court ordered the confiscation and sale of three properties acquired with the stolen funds—including the now-missing bungalow in Centenary City, Enugu—with the proceeds meant to be returned to the bank.
According to the bank, EFCC operatives led its officials to identify the properties, only for them to later claim that one of the assets—a fixed, immovable structure—could no longer be located. This startling revelation prompted the commission to seek a court order allowing it to interview Anidiobi in prison to confirm the property’s location.
However, more than five years after the fraudster’s conviction, the bank insists that the EFCC has failed to produce the asset, raising serious concerns about possible internal corruption within the commission.
In its notice, Ohha Microfinance Bank did not mince words, accusing the EFCC of fraudulent conduct and a blatant perversion of justice. It alleged that the agency’s actions—or lack thereof—were aimed at depriving the bank of its rightful compensation while emboldening convicted fraudsters.
“The EFCC’s inability to account for a court-ordered exhibit is not just an embarrassment but a grave injustice,” the notice read. “It is illegal and unlawful for the commission to claim that an immovable property under its custody has vanished into thin air.”
The bank has now formally served notice of its intent to file a lawsuit against both the EFCC and the Attorney General of the Federation. Among its demands, the bank seeks:
A judicial declaration that the EFCC’s handling of the property is fraudulent and illegal.
A court order compelling the EFCC to locate, sell the bungalow, and remit the proceeds to the bank.
N100 million in compensation for the bank’s prolonged financial distress caused by the agency’s actions.
This case is not an isolated incident. On January 22, SaharaReporters revealed that the EFCC had launched a manhunt for an officer in charge of the Kaduna Zonal Office’s exhibit room after he allegedly stole over $30,000 and other valuable items. The latest scandal further tarnishes the commission’s reputation, raising questions about internal accountability and transparency.
With the EFCC now under pressure to explain the baffling disappearance of a court-ordered exhibit, all eyes are on the agency’s next move. Will the anti-graft body come clean, or will this case expose deeper cracks in Nigeria’s fight against corruption?
PIONEER NEWS 