The Federal High Court Sitting in Lagos has ordered the interim forfeiture of a sum of N7,646,700,000 said to have been illegally kept in Sterling Bank Plc.

The Economic and Financial Crimes Commission linked the offence to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

The Commission who wanted the money forfeited to the Federal government told Justice Chuka Obiozor via an ex parte application that the N7.6 billion was part of a sum of $153,310,000 which Diezani allegedly siphoned from the coffers of the Nigerian National Petroleum Corporation sometime in 2014.

The EFCC also alleged that Mrs. Alison-Madueke stashed the money in three banks, and the Federal Government had since February last year, through an order granted by another judge, Justice Muslim Hassan also of the Federal High Court, recovered part of the money from the other banks.

The anti-graft agency recalled that the Federal Government had recovered N23.4bn, $5m and another N9.08bn out of the $153.3m.

It urged the court to order Sterling Bank to deliver up to the Federal Government the N7.6bn still in its custody.
Justice Obiozor granted the order and directed the commission to cause it to be published.

He then adjourned till August 28, 2017, for the bank and any other interested party to appear before him to show to know why the funds should not be permanently forfeited to the Federal Government.

source:Channelstv