A Federal High Court sitting in Abuja yesterday ordered the Security and Exchange Commission (SEC) to `immediately’remove a `wanted notice’ posted on its website against Philemon Gora.
The applicant, Managing Director of the Cashflow Nig Ltd, had claimed that the EFCC and SEC also instructed his Banks not to honour his chegues.
Justice Adeniyi Ademola further restrained the second defendant, IG-P from taking further steps against the applicant pending the hearing of his motion on notice.
“ All parties to the suit before this court must maintain status quo pending when the interim order is vacated,’’he said.
SEC had filed a petition to the IG-P and EFCC to investigate Cashflow and its Managing Director, Gora, for allegedly running an illegal financial institution.
The Commission had further asked them to stop the illegal transaction with a view to protecting depositors funds.
According to the applicants counsel, James Ocholi (SAN),“ it amounts to a mockery of research and disregard for the court for SEC to post and declare my client wanted the parties have been put on notice’’.
“In fact, My Lord, the EFCC, ICPC and SEC have continually intimidated Gora for doing legitimate business,’’ he said.
The applicant (Gora) claims that the huge sum of money in his multiple accounts were proceeds from a contract with Google.
Gora is therefore seeking the order of the court to compel EFCC, ICPC and SEC to allow him access to his Bank Accounts.
He alleged that the freezing of the accounts had brought hardship on the employees of the software company.