Firm Challenges Order to Transfer $10.5m to Unknown Third Party

INT Towers Limited, an operator in the telecoms sector, will on Thursday, October 19, 2017, move an application seeking for leave to appeal against what it called a strange order by a Magistrate Court.

Magistrate W.B Balogun, sitting at Igbosere, had ordered INT Towers to transfer $10.5million to the account of a company known as Emirates Fuel Exploration and Production Limited.

The Magistrate gave the order, while ruling on an application filed by the Lagos Commissioner of Police and Managing Director of Emirates Fuel, Akin Jegede.

The Police claimed that, the money was obtained from Jegede by fraudulent means.

However, INT Towers said it was not a party to the suit, nor does it have any business dealings with any company known as Emirates Fuel Exploration and Production Limited.

It said the Police has also not provided any evidence, about how it received the money from Jegede and his company.

INT Towers, has applied for a stay of execution of the order.

It is also praying, for an order granting it leave to appeal against the ruling delivered on September 19.

The Magistrate ordered INT Towers to deposit the money, which is in its Ecobank Plc account, to an account belonging to Emirates Fuel Exploration and Production Limited.

The Magistrate ruled on an application brought by the Lagos Commissioner of

Police and Jegede against Ecobank, where INT Towers’ account is domiciled.

According to the Magistrate, the Commissioner of Police “investigated and confirmed that the money was fraudulently obtained by the Managing Director of International Towers Limited from the second applicant (Jegede)".

The Magistrate further ordered the Bank, to comply with the order immediately it is served with it.

However, INT Towers sought to set aside the order, which the court refused.

The applicant said failure of the Commissioner of Police and Jegede to join it to the suit, breached its right to fair hearing.

Besides, INT Towers said the Police Commissioner and Jegede, lacked the locus standi (legal right) to apply to the court to transfer its funds to a third party, without affording the applicant the opportunity to be heard, notwithstanding that it would be adversely affected by the order.

The applicant said the amount is in excess of the court’s monetary jurisdiction prescribed under the Magistrate’s Court Law, therefore, the court lacked the jurisdiction to make the order.

In an affidavit in support of INT Towers' motion on notice, the deponent, Michael Onah of the firm of Templars, debunked the fraud claim.

The Commissioner of Police and Jegede, alleged that Jegede released the money to INT Towers through his company, Emirates Fuel.

But, the applicant said the Police and Jegede, did not provide any evidence of such transfer, such as deposit slips or acknowledgement of receipt of payment.

“The first and second respondent equally failed to furnish the court with any evidence of the alleged contract, or any other document evidencing the said transaction for the supply of diesel between the applicant and the second respondent”, the deponent said.

Onah said that, when INT Towers’ Lawyers went to the State Criminal Investigation Department (SCID), Panti, on the invitation of the Police, and asked for evidence of the transfer of the money from Jegede to INT Towers, none was provided.

“The applicant is a reputable company, and one of the biggest players in the telecoms industry both in Nigeria and around the globe. The applicant is not involved in petroleum business.

“Emirates Fuel in whose favour the applicant’s fund with the third respondent (Ecobank) was ordered to be transferred to, was never a party to the proceedings,” the deponent said.

He added that the Commissioner of Police and Jegede “did not act bona fide in bringing the application and they also acted fraudulently".

INT Towers said the court could have summoned it, to show cause why the money should not be forfeited or transferred, but it never did so.

“The applicant or any of its subsidiaries has never transacted business with Emirates Fuel or indeed Mr. Akin Jegede", the deponent said.

The court had on September 19 granted INT Towers’ prayer to be joined as a party, but refused its application to set the order aside.

It is therefore, seeking leaving of the court to appeal against the decision refusing to set aside the order.

“The sum of $10,500,000 belonging to the applicant, which the court ordered the third respondent to transfer from the applicant’s account to Emirates Fuel, is a huge amount of money.

“If the money is transferred and dissipated by the first and second respondents, there is no evidence that they will be able to repay or restore the applicant’s account in the said sum…”, the deponent added.

INT Towers, urged the court to grant the application, in the interest of justice.