Imo State government might be cash trapped in the coming following days following the order of the Court of Appeal that all state accounts be frozen over N1billion debt.
According to a report by Vanguard Newspaper, the court sitting in Owerri, recently ordered the freezing of all the accounts of the State Government as well as confiscation of all monies domiciled in the accounts.
The court reportedly ordered that the confiscated monies should be used to offset the sum of N1 billion owed E. F. Network Nigeria Limited and Gideon Egbuchulam.
The judgement which was delivered by Justice G. Mbabasealed an earlier appeal filed by the Governor of Imo State, the Attorney General of Imo State, the Environmental Transformation Committee and the Ministry of Petroleum and Environment, Imo State.
Before the judgment of the Court of Appeal in Owerri, earlier judgments have been delivered by Hon. Justice Maryann Anenih of Maitama High Court, Abuja, and Hon. Justice Ijeoma Agugua, in suit numbers FCT/HC/M/9257/2016 and HU/538/2011, respectively.
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