The Federal High Court in Lagos will today decide whether the N7,646,700,000 allegedly hidden in Sterling Bank Plc by a former Minister of Petroleum Resources, Diezani Alison-Madueke, can be permanently forfeited to the Federal Government.
On August 9, 2017, vacation judge Justice Chuka Obiozor granted an order temporarily forfeiting the money to the Federal Government.
Justice Obiozor’s order followed an ex parte application argued before him by the Economic and Financial Crimes Commission (EFCC).
He, therefore adjourned till today 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.
The EFCC told the judge that the N7.6 billion was part of a sum of $153,310,000, which Alison-Madueke allegedly siphoned from the coffers of the Nigerian National Petroleum Corporation (NNPC) sometime in 2014.
The anti-graft agency said she stashed the money in three banks, adding that the Federal Government had since February last year, through an order by Justice Muslim Hassan of the Federal High Court, Lagos recovered part of the money from the other banks.
The anti-graft agency recalled that the Federal Government had recovered N23.4 billion, $5 million and another N9.08 billion of the $153.3m million.
In an eight-paragraph affidavit, it urged the court to order Sterling Bank to deliver up to the Federal Government the N7.6 billion still in its custody.
An operative of the EFCC, Usman Zakari, averred that the former Petroleum Minister laundered the money in connivance with other officials of the NNPC.topics from