Court orders final forfeiture of looted N7.6bn illegally kept in Sterling Bank

Posted by Adeshola Soyele | 28 August 2017 | 1,191 times

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 The Federal High Court Sitting in Lagos has ordered the final forfeiture of a sum of N7,646,700,000 allegedly hidden in a bank by a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, to the Federal Government.

The court had on August 9, 2017, ordered the interim forfeiture of the sum said to have been illegally kept in Sterling Bank Plc.

The order granted by the vacation judge, Justice Chuka Obiozor, followed an ex parte application argued before him by the Economic and Financial Crimes Commission (EFCC).

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.

Text courtesy of Channels TV.

 


Source: News Express

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