The Traffic

Appeal Court Reinstates Asset Freeze on Properties Linked to Yahaya Bello

The Court of Appeal in Lagos has restored a preservation order on 14 high-value properties and N400 million allegedly linked to Yahaya Bello, the former governor of Kogi State.

The decision was delivered by a three-member panel in response to an application by the Economic and Financial Crimes Commission (EFCC). The ruling reverses an earlier decision by a Federal High Court that had lifted the freeze, reinstating restrictions on the properties while litigation continues.

The assets under scrutiny include real estate reportedly located in Lagos, Abuja, and the United Arab Emirates. The funds and properties are suspected to be connected to financial misconduct currently under investigation.

Preservation orders are legal instruments used to secure contested assets from being moved, sold, or otherwise tampered with during court proceedings. Their purpose is to maintain the status quo until the court reaches a final decision.

Back in February 2024, Justice Nicholas Oweibo of the Federal High Court in Ikoyi granted the initial interim forfeiture following an ex parte application by the EFCC. The judge also directed that public notices be placed in national newspapers to allow any interested parties to contest the forfeiture.

In response, Bello challenged the interim order, arguing that the listed properties were legally acquired prior to his assumption of office as governor. He further asserted constitutional immunity under Section 308, which protects sitting governors from both civil and criminal prosecution.

On April 26, the lower court vacated the forfeiture order, siding with the argument presented by Bello's legal team. However, the EFCC quickly filed a motion for a stay of execution pending the outcome of an appeal.

With the appellate court’s latest ruling, the preservation order is once again in force, preventing any transfer or sale of the assets until the legal process concludes.

By Haruna Yakubu Haruna