The Federal High Court in Lagos has ordered Sterling Bank Plc to temporarily forfeit to the Federal Government a sum of N7,646,700,000 said to have been illegally kept in the bank’s custody by a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.
Justice Chuka Obiozor made the order following an ex parte application argued before him by the Economic and Financial Crimes Commission.
He adjourned till August 28, 2017 for the bank and any other interested party to appear before him to show cause why the funds should not be permanently forfeited to the Federal Government.
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