*Judge says regulations remain ‘invalid statutory instruments’
In what can be regarded as a landmark verdict, Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos has nullified the Asset Tracing, Recovery and Management Regulations, 2019, saying that the regulations are “invalid statutory instruments.”
Justice Lewis -Allagoa gave the verdict on Monday in a suit marked FHC/L/CS/40/2021 and filed by the Incorporated Trustees of HEDA Resource Centre.
The plaintiff also named the AGF as the sole defendant to the suit.
Justice Lewis- Allagoa also nullified all sales and disposals of assets made by the Attorney-General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, SAN under the Asset Tracing, Recovery and Management Regulations, 2019.
The judge also held that the Asset Tracing, Recovery and Management Regulations, 2019 were “ultra vires the office and powers” of the AGF.
The AGF had on November 9, 2020, inaugurated the Inter-Ministerial Committee on the disposal of assets forfeited to the Federal Government.
Speaking at the inauguration of the committee, Malami claimed that his action was in accordance with the President Muammadu Buahari’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.
But HEDA through its lawyer, Omotayo Olatubosun, challenged the AGF’s power to set up the committee on the grounds of illegality and abuse of power.
The plaintiff also urged the court to nullify the regulations and all the sales carried out by Malami under the Asset Tracing, Recovery and Management Regulations, 2019.
