Cashflow Abi Network and its CEO, Dr. Philemon Ibrahim Gora, have secured an order from the Federal High Court in Abuja to file a lawsuit compelling the Economic and Financial Crimes Commission (EFCC), its Chairman Abdulrasheed Bawa, and the Inspector General of Police (IGP) to adhere to the court’s judgment in suit No FHC/ABJ/CR/77/2018.
Justice Ahmed Mohammed has granted the applicants permission to seek an Order of Mandamus, compelling the Respondents to withdraw and/or discontinue charge Nos. FHC/ABJ/CR/77/2018 and FCT/HC/CR/203/2018. The charges were initiated in violation of paragraph 14 of the Terms of Settlement adopted as Judgment by the court on July 12, 2013, in Suit No. FHC/ABJ/CS/7/2013.
Additionally, the court has allowed the Applicants to apply for an Order of perpetual injunction, as per paragraph 14 of the Terms of Settlement adopted as Judgment by the court on July 12, 2013. This order would prevent the Respondents, their officers, servants, agents, and any other authorized individuals from pursuing, continuing the trial, arresting, detaining, or prosecuting the Applicants in relation to charge Nos. FHC/ABJ/CR/77/2018 and FCT/HC/CR/203/2018, as well as any other matters related to the aforementioned charges.
The ruling was delivered after Chief Solomon Akuma, counsel to the applicants, presented an ex-parte motion pursuant to section 14 of the Federal High Court Act and relevant rules of the Federal High Court (Civil Procedure) rules 2019.
In response to the motion marked FHC/ABJ/CV/644/2023, Justice Mohammed acknowledged the merits of the applicants’ case against the respondents and granted the application as prayed. However, the court has ordered that a hearing notice be issued to the respondents before the scheduled hearing date of June 20, 2023.
Dr. Gora, in an affidavit sworn at the Federal High Court, alleged a conspiracy between the EFCC, banks, and the freezing of the company’s account, despite the court judgment in their favor.
Cashflow Abi Network Ltd was registered with the Corporate Affairs Commission (CAC) since 2011 and operates from its headquarters in No 21 Apollo Crescent, Jos, Plateau State, with branch offices in various states across Nigeria. The company had also applied to the Securities and Exchange Commission (SEC) as a funds portfolio manager and investment adviser.
Previously, the SEC had filed a petition with the Inspector General of Police (IGP) and the EFCC, calling for an investigation into the business activities of Cashflow ABI Network Ltd and its chairman, Gora, for allegedly operating an illegal financial institution.
As a result, the EFCC froze all corporate bank accounts of Cashflow Abi Ltd and its chairman, along with the funds of depositors and investors.
Cashflow and its chairman, Philemon Gora, then filed a lawsuit against the EFCC and the IGP in suit N0: FHC/ABJ/CS/7/2013. The court judgment mandated the establishment of a committee to unfreeze the accounts and refund