The Federal High Court in Lagos has nullified the Asset Tracing, Recovery and Management Regulations for being “an invalid statutory instrument.”
According to the minister, the move was in accordance with the president’s directive in October 2018 following recommendations of the Presidential Audit Committee on Recovery and Management of Stolen Assets and a need for efficient management of the assets. The plaintiff sought nine reliefs, including the nullification of all disposals of assets by the AGF’s Committee.In its judgment, the court dismissed the AGF’s preliminary objection argued by its counsel, Tolu Mokunolu, and granted all of HEDA’s reliefs as prayed on the motion paper.
“The above statutory enactments are therefore the enabling source of the Attorney-General of the Federation to the regulations. “I am, therefore, in agreement with counsel for the plaintiff that the executive orders or any other forms of definition can be issued pursuant to session 315 of the Constitution; however, they are limited to enactments predating the 1999 Constitution.
Great.
They want to sale it to themselves
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