News
Court Orders Final Forfeiture Of ₦81.1 Million In Sterling Bank Fraud Case
The Federal High Court sitting in Ikoyi, Lagos State, has ordered the final forfeiture of the sum of ₦81,108,143.8 to the Federal Government of Nigeria as part of the ₦2.5 billion stolen from Sterling Bank.
The judge, Justice Yelim Bogoro, gave the order in favour of Sterling Bank Plc on Monday, March 9, 2026, following a motion on notice filed by the Economic and Financial Crimes Commission (EFCC), through its counsel, Hannatu U. KofarNaisa.
The ₦81,108,143.8 was part of the ₦2.5 billion stolen by some customers of Sterling Bank and transferred to their own use and to the use of some third-party beneficiaries, owing to a system glitch at the bank.
Upon receipt of a petition from the bank on July 18, 2022, the EFCC initiated investigations, which led to the identification and tracing of the stolen funds to various accounts, including that of a customer, Sulaiman Kehinde Ojora, who was one of the major beneficiaries of the monumental fraud.
Investigation further revealed that Sulaiman Kehinde Ojora fraudulently concealed the sum of ₦43,000,000 in the account of his friend, Taiwo Oluwaseyi Alawode (Account No. 1233126860), domiciled in Access Bank, and the sum of ₦122,200,009.00 in the account of his wife, Aminat Olatanwa Ojora (Account No. 0072889319), domiciled in Sterling Bank.
On October 2, 2025, the court granted an interim forfeiture order of the fund and directed its publication in a national newspaper, inviting any interested party to show cause why the money should not be finally forfeited to the Federal Government.
Moving the motion for the final forfeiture order on Monday, counsel to the EFCC, H.U. KofarNaisa, stated that the application was supported by an affidavit deposed to by an EFCC investigator, Maina Gapani Gyal.
In the affidavit, Gyal stated that he was one of the Commission’s operatives assigned to investigate the petition received on July 18, 2022, regarding the alleged monumental fraud.
Gyal said: “That over N2,500,000,000.00 (Two Billion Five Hundred Million Naira) was stolen by some customers of the bank and converted to their own personal use as well as to the use of some third party beneficiaries.
“The said fraud and unauthorized transfer of funds was due to a system glitch in the bank wherein the over N2,500,000,000.00 (Two Billion Five Hundred Million Naira) was allegedly stolen.
“That the glitch gave customers of the Bank an opportunity using the PAYATTITUDE Global Ltd banking platform (an e-bank wallet and a payment scheme subscribed by sterling bank PLC), to illegally transfer funds when their Sterling Bank accounts were not funded.”
KofarNaisa also said that Gyal, in the affidavit, also stated “That the petitioner alleged that the bank was unable to salvage the total sum of N295.916.201.02 (Two Hundred and Ninety Five Million, Nine Hundred and Sixteen Thousand, Two Hundred and One, Two Kobo) from the said monumental fraud, same having been withdrawn and converted by the Bank customers.
“That the said funds were fraudulently concealed in accounts number 1233126860 belonging to Taiwo Oluwaseyi Alawode domiciled with Access Bank PLC and account number 0072889319 belonging to Aminat Olatanwa Ojora domiciled in Sterling Bank PLC, as highlighted in schedule A to this Application.
“That the bank was able to salvage the total sum of N81,108,143.8 (Eighty One Million One Hundred And Eight Thousand One Hundred And Forty Three Naira Eight Kobo), out of the monumental fraud as highlighted in paragraph 9 above and schedule A to this Application, now sought to be finally forfeited.
“That the Bank was also able to salvage the total of N490,349,000 ( Four Hundred and Ninety Million, Three Hundred and Forty Nine Thousand Vaira) from the Banks’ Internal Ledger.”
KofarNaisa, therefore, told the court that the money was reasonably suspected to have been proceeds of unlawful activities, adding that the Commission had published the interim forfeiture order in The Punch newspaper of February 19, 2026, for any interested party to show cause why the final order of forfeiture should not be made in favour of the Federal Government of Nigeria.
After listening to KofarNaisa’s submissions, Justice Bogoro held that “having gone through the motion and attachments, I find the application meritorious and the same is accordingly granted.”
…leaders urge resilience as pressure mounts within ADC ranks
By Gloria Ikibah
Former Kogi State governor Yahaya Bello and Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, have thrown their weight behind Rep. Leke Abejide, urging him to remain steadfast amid ongoing political tensions within his party the African Democratic Congress.
The messages of support were delivered during a dinner in Abuja held to celebrate the 50th birthday of his wife, Esther Abejide, where both leaders praised his resilience and commitment to democratic ideals.
They encouraged the Yagba Federal Constituency representative to stay the course and continue his efforts to stabilise and strengthen the African Democratic Congress, despite mounting internal challenges.
Bello described Abejide as a determined political figure who remains focused on his goals, while Gbajabiamila urged him to remain within the party and push for what he believes is right.
Their intervention comes at a time of heightened uncertainty within the ADC, with calls for unity and perseverance growing louder among party stakeholders.
Bello said, “Honourable Leke Abejide sought to be a member of the House of Representatives on the platform of APC then, and there are some mathematical miscalculations. But that never stopped him. He came second time and he is performing and touching lives across the board.
“Honourable Leke Abejide is acting as if he was the governor. At a point I was like, do you want to overthrow me? Honourable Leke Abigide sought to be the governor of Kogi State. He contested keenly with my amiable and wonderful successor. I know how many times our brother, the chief of staff, the president, intervened, called me, and several meetings were held. And I maintained one thing. I said, look, this is my brother. I will never deceive him. The politics of Kogi State, nobody knows better than I do at this stage. Let him just try his luck and learn and wait for an appropriate time.
“Honourable Leke Abejide did not lose. He only came to learn the act of politicking especially for governorship at that level in Kogi State. Honourable Leke Abejide did not hesitate to support and give all of his backings to my governor immediately after the election. He was under serious pressure to go to court. He was the first person who said he was not going to challenge it. Rather, he collapsed his structures and supported.
“Honourable Leke Abejide at National Assembly level, despite he belonged to ADC, he was supporting our president actively, both physically and covertly. Honourable Leke Abejide, we thank you for all your performance. Your Excellency, thank you for your guidance. The Chief of Staff, the President. Tell Mr. President that we appreciate you. And that myself and my governor, we have conferred on each other. And that we are calling on Chief Leke Abejide and telling all of the Yagba Federal Constituency’s persons that are here, please take this message home, that we want Leke back in APC”.
Similarly, the Chief of Staff to the President and former Speaker of the House of Representatives, Rt. Hon. Gbajabiamila commended Rep. Abejide for his doggedness which he said kept him on track in his democratic journey and winning elections on a platform which he kept alive and running for long.
He said, “I keep saying people to people when I talk about him, that for a man to contest an election in a face-to-face state where elections are fierce, and to contest under a platform of a relatively unknown party, ADC, and to win back-to-back-to-back, it tells you who that man is. Not when he won the first time, he came on a sole ADC carry to the house. Four years later, he went back to Kogi. He brought somebody else from the ADC.
“Honorable Abejide, I know you to be a committed party man. I know you to be a fighter. I know you to be someone who does not like to be cheated. So please, my charge to you is to stay in that same ADC. Fight. Fight them. Scare them. Hold on to your party, ADC. Do not allow them. We like what you are doing. Continue.
“Don’t let the former governor say that you should come and join the APC. No, no, no, no, no, no. Stay in the ADC. Win your election in the ADC as you will. Bring Gombe. We will support him. Bring him. Do the right thing. You are a fighter. Do the right thing. Nobody can come and take your party away from you. A party that you’ve been to for years with your sweat and your money and everything. No. Continue. Good luck in court”.
The African Democratic Congress (ADC) National Legislators Serving and Former Forum has tasked all stakeholders especially the Judiciary on projection of Nigeria’s democracy.
The forum gave the charge on Tuesday at a news conference in Abuja while reacting to comments allegedly made by some top politicians and public officials that do not advance Nigeria’s democratic processes.
Speaking on behalf of the forum, Ms Nnenna Ukeje, a member of the 8th House of Representatives said that as patriots, the forum is committed to national interest and have defended democracy on many fora.
According to her, their intervention stands for the defence, stability, protection of democracy and preservation of our beloved country.
“We must reiterate that there is a clear difference between the tyranny of the majority and true democracy; between illiberal civil rule and a system grounded in democratic contestation; between constitutional governance and authoritarian subjugation.
“Nigeria must remain firmly on the side of democracy, resisting overreach by any arm of government is not subversion; it is a constitutionally given right and duty.
“To the judiciary, we reiterate: this is a defining moment; the tipping point, the nation’s eleventh for survival.
“Your independence must remain sacrosanct. Your integrity must be unquestionable and your patriotism unapologetic. Your decision will determine the drift,” she said.
Ukeje said that Nigeria’s democracy must not be weakened by the very forces that once fought to build it saying that the preservation of democratic space is not a favour to the opposition but a duty owed to the nation.
The former lawmaker said that Nigerians must be very vigilant as democracy does not defend itself but survives only when citizens, institutions, and leaders commit to its protection.
“In conclusion, Nigeria must remain a nation governed by law, not expediency; by robust institutions, not strong individuals; and by the will of the people, not predetermined outcomes.
“Let the judiciary act without interference. Let opposition thrive without intimidation. Let citizens participate without fear.
“Nigeria’s democracy belongs to its people, and it must be protected and defended by all.
We remain committed to defending it through all lawful means; through the courts, through civic engagement, and at the ballot box,” she said. (NAN)
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…..Oyedele elevated to Finance Minister
President Bola Ahmed Tinubu has approved a minor cabinet reshuffle in the membership of the Federal Executive Council.
According to a memo signed by the Secretary to the Government of the Federation, Senator George Akume, two cabinet members, Mr. Wale Edun and Arc. Ahmed Musa Dangiwa are to leave the cabinet while their replacements have been named.
Edun, until the latest development, was the Minister of Finance and Coordinating Minister for the Economy.
He has been directed to hand over to Mr. Taiwo Oyedele who is now to take over as Minister of Finance and Coordinating Minister of the Economy. Oyedele was formerly a Minister of State in the ministry.
Also Mr. Muttaqha Rabe Darma (PhD .) has been named as the ministerial nominee and minister designate for the Housing and Urban Development Ministry.
The memo also directed Dangiwa to hand over to the Minister of State in the ministry.
The memo stated that “all handing over and taking over processes should be completed on or before close of business on Thursday 23rd April, 2026.”
Explaining the President’s decision, Akume said: “These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda.”
He said the President, in approving the cabinet reshuffle, has fully exercised his powers as conferred on him by Sections 147 and 148 of the Constitution of the Federal Republic of Nigeria (1999, as amended).
The President thanked the outgoing ministers for their services to the nation while wishing them the best in all their future endeavours.
The President, Akume noted, equally assured all cabinet members that “the process of reinvigoration shall be continuous.”
Stand Firm and Keep Fighting, Bello, Gbajabiamila Rally Abejide
Forum of legislators calls on Judiciary to safeguard Nigeria’s democracy
Tinubu approves minor cabinet reshuffle, sacks Edun, Dangiwa
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