Anti-corruption and elections / EFCC

Court Orders Final Forfeiture of N1.2bn Stolen From Sterling Bank To FG

Justice D.I.Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sum of N1,292,798,746.81 (One Billion , Two Hundred and Ninety-two Million, Seven Hundred and Ninety-eight Thousand , Seven Hundred and Forty-six Naira , Eighty-one Kobo ) to the Federal Government of Nigeria in favour of Sterling Bank Plc. The money had been criminally withdrawn by some individuals owing to a system glitch experienced by Sterling Bank Plc. Upon receipt of a petition received by the Commission from the bank alleging a N2.5bn theft, investigation led to the identificat…