By Aliu Akeem
Nigerian oil mogul and CEO of Total Grace Group, Henry Akinduro, has filed a ₦5 billion lawsuit against the Economic and Financial Crimes Commission (EFCC). Akinduro accuses the anti-graft agency of infringing on his rights by publicly declaring him wanted without following due legal process.
This lawsuit comes after EFCC listed Akinduro as wanted in connection to allegations of fraud made by a business associate, Femi Olushakin. The dispute centers on a contractual disagreement that has spiraled into a contentious legal confrontation.
EFCC Lawsuit: Allegations and Background
Henry Akinduro, the chairman of Global Signature Hotel and Total Grace Group, is well-known in Nigeria’s oil sector. The EFCC declared him wanted based on accusations from Mr. Femi Olushakin, who claims that Akinduro defrauded him through a business deal. According to the EFCC, Akinduro is being investigated for obtaining money under false pretenses and conversion, triggering a wanted notice. However, Akinduro’s legal team contends that these allegations are civil in nature, not criminal, and relate to a contractual disagreement that is already the subject of an ongoing civil lawsuit (Suit No: I/875/2024).
Akinduro’s attorney, Senior Advocate of Nigeria (SAN) Olalekan Ojo, has argued that the EFCC’s actions were unwarranted and detrimental to Akinduro’s reputation. Ojo highlighted that Akinduro’s legal response to the accusations has been responsible, involving formal legal channels. According to his legal counsel, “Our client considers this online publication detrimental to his reputation and believes it to be an unjustified attack by the EFCC.”
Legal Dispute Rooted in Business Agreement
At the heart of the dispute is a business agreement gone wrong. The civil suit filed by Akinduro against Olushakin, which predates the EFCC’s actions, seeks a legal resolution to the disagreement over the terms of their business partnership. Akinduro’s legal team maintains that the disagreement is purely civil, with no criminal element, and that the EFCC has overstepped its bounds by treating it as a criminal matter.
The suit filed by Akinduro seeks to declare that the EFCC’s actions were unlawful and amounted to an abuse of power. Akinduro’s lawyers argue that the declaration of his wanted status was made without any judicial backing, further exacerbating the situation. In their statement, the legal team emphasized that Akinduro “has always responded either by way of tenable correspondences, letters, and further replies,” showing his commitment to resolving the contractual issues legally.
Olushakin, on the other hand, continues to assert that he is owed substantial sums of money from the business partnership, further complicating the legal proceedings. His counterclaim has added to the tension, as he seeks what he alleges are returns on his investment. However, Akinduro’s legal team maintains that the accusations are unfounded and that their client has acted in good faith throughout the dispute.
Ongoing Legal Battle
The case has drawn significant attention, given Akinduro’s prominence in Nigeria’s oil and business sectors. Akinduro’s lawyers have reiterated his confidence in the judicial system, stating that he is prepared to clear his name in court. They emphasize that he is entitled to the presumption of innocence, as guaranteed by the Nigerian Constitution, and that the EFCC’s actions have undermined this principle.
Akinduro’s legal team expressed their frustration over the EFCC’s public handling of the matter, noting that the agency should have allowed the courts to adjudicate the civil suit without prematurely declaring him wanted. “At all material times, we will expect for your perception of our Client to accommodate this benefit of doubt while we await the Honourable Court to judicially apportion rights and liabilities,” Ojo noted, stressing the importance of due process.
The EFCC, meanwhile, has yet to formally respond to the lawsuit. The public and business communities are closely watching the case, given its potential ramifications for corporate governance and legal processes in Nigeria.
