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Court Orders Final Forfeiture Of ₦81.1 Million In Sterling Bank Fraud Case

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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.

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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.

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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.

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“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.

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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.”

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Photos: We’re building infrastructure for a knowledge-driven economy – Tinubu

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President Bola Tinubu has said that his administration was building road infrastructure to lay the needed physical foundation for a knowledge-driven economy, stressing that education, justice, and innovation need roads to thrive.

Tinubu stated this in Abuja on Tuesday, while flagging off the construction of Collector Road CO1 in the Institutional Research District, from Nile University to Ring Road III.

Represented by the National Chairman of the All Progressives Congress, Prof Nentawe Yilwatda, the President said that the project included dualisation of the road from Baze University roundabout to Nile University, that is the Base University.

He noted that three years into his administration, the results were speaking out.

“From the Southern Parkway to the Institution and Research District, we are laying the physical foundation for a knowledge-driven economy.

“Today, we provide those roads that are needed to provide justice, education, and innovation to our people.

“To the university community, this road is more than a route. It is a connection between learning, law, and the future of our capital,” he said.

He pointed out that the Institution and Research District was designed to be the intellectual heart of Abuja, adding that universities, law chambers, research centers, and innovation hubs were growing in the area.

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He, however, stressed that ideas could not move if roads do not move and connect the heart and people together.

Tinubu further said: “Under the Renewed Hope Agenda, we made a choice to finish what was started and to start what we must finish.

“The first phase of this corridor connecting the Body of Benchers, Nile, and Base University is done and ready for commissioning. Today, we begin the next phase to Ring Road III to complete the loop.

“That is how we build a city—with a plan. Not a city of abandoned pieces. Infrastructure must be continuous, and it must also be useful to the people within the environment”.

He commended FCT Minister Nyesom Wike for turning FCT into a delivery agency, stressing that the transformation of Abuja under the minister’s watch is bold, visible and worthy of commendation.

He said, “Wike, your energy is unmatched. You took over a capital with many stalled projects and turned the FCTA into a delivery agency. ‘Mr. Projects’ is not a slogan, it is a record. You have revived sleeping roads, built new interchanges, and brought development to satellite towns. You have domesticated the Renewed Hope Agenda; street by street, district by district. The transformation of Abuja under your watch is bold, visible, and worthy of commendation. Well done, Minister Wike.”

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In his remarks, Wike explained that the project was considered following a plea by the Body of Benchers to provide access roads to ease the movement of people in and out of the area.

He assured FCT residents that the Tinubu administration would fulfill all the promises made to the people of FCT, adding that the project would be completed by January 2027.

The minister said that he would continue to deliver life-impacting projects to FCT residents as directed by Tinubu, stressing that the delivery would not be affected by 2027 political activities.

Earlier, acting Executive Secretary, Federal Capital Development Authority, Mr Richard Dauda, said that the Institutional Research District of the FCT is located in Phase III of the city.

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Dauda said that the area was planned to accommodate educational institutions like universities, research institutions, and other government institutions as provided in the Abuja master plan.

He added that the district was being developed in stages, with this project being a major intervention in the opening of this district.

He explained that the scope of the current stage involved the construction of Collector Road CO1, from the Nile University to Ring Road III with a total length of about six kilometres.

He added that the project also included the dualisation of the section from the Base University Junction to Nile University.

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Just in: Kidnapped APC Chairman, Another Victim Die in Abductors hideout

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Tragedy struck in northern Nigeria following reports that two abducted victims, including a former chairman of the All Progressives Congress (APC) in Koko/Besse Local Government Area of Kebbi State, have died while in captivity.

The deceased, Alhaji Muhammadu Mai Barga Besse, who previously served as APC chairman in the local government area, was reportedly held hostage by armed kidnappers for an extended period before his death. Another victim who was abducted alongside him was also confirmed dead, although his identity had not been officially disclosed at the time of filing this report.

The sad development comes months after disturbing videos emerged online showing the victims in dire conditions while being held captive in the notorious Birnin Gwari forest.

The footage sparked widespread concern among family members, political associates and members of the public who called for urgent intervention to secure their release.

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Despite efforts made during their captivity, both men were reportedly never reunited with their families before their deaths.

The incident has once again drawn attention to the persistent security challenges facing communities across northern Nigeria.

The Birnin Gwari axis, located along the Kaduna-Niger corridor, has become one of the country’s most dangerous regions, with criminal gangs and armed bandits frequently carrying out kidnappings, attacks on villages and other violent crimes.

Residents and stakeholders have repeatedly called on security agencies to intensify operations in the area and dismantle criminal hideouts within the vast forest, which has long served as a sanctuary for armed groups.

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News of the deaths has generated an outpouring of grief on social media, with many Nigerians expressing sadness over the fate of the victims and urging authorities to strengthen efforts against kidnapping and banditry.

Popular social media personality Denglishalhajii also shared the development on Instagram, mourning the victims and drawing attention to the growing insecurity affecting many parts of the region.

The deaths of the former APC chairman and his fellow captive have further underscored the human cost of the country’s security crisis, leaving families, friends and political associates in mourning while raising renewed concerns about the safety of citizens in vulnerable communities.

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Tinubu Seeks Constitutional Backing For State Police, Writes Senate

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President Bola Tinubu has asked the senate to approve a constitutional amendment bill seeking to establish state police across Nigeria as part of efforts to strengthen the country’s security architecture.

The request was contained in a letter dated June 15, 2026, and read on the floor of the senate on Tuesday by Godswill Akpabio.

In the correspondence, Tinubu said the proposed Constitution of the Federal Republic of Nigeria (Alteration) State Police Bill, 2026, seeks to amend the 1999 constitution to provide a legal framework for the creation of state police services.

The president said the bill is designed to address Nigeria’s evolving security challenges by introducing a dual policing structure that would allow both federal and state policing systems to operate within a constitutional framework.

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According to him, the proposal builds on previous legislative efforts by both chambers of the national assembly and contains additional safeguards to ensure effective implementation.

“This bill builds on the significant work already done in this regard by the House of Representatives and the Senate, and incorporates additional safeguards to ensure that the creation of a dual policing structure to address our nation’s evolving national security challenges, will be achieved quickly and effectively to the benefit of all Nigerians,” Tinubu said.

The president described the proposed legislation as a key component of his administration’s broader plan to reform Nigeria’s security system and improve the protection of lives and property.

“The proposed legislation is a critical component of our administration’s strategy to reorganize Nigeria’s security architecture to better protect our citizens, and I’m confident that the Senate will act quickly to consider and pass this bill,” he added.

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Read Also: Amnesty International Demands Immediate Release of Omoyele Sowore, Condemns Detention

Tinubu urged lawmakers to give the proposal expeditious consideration.

Following the reading of the letter, Akpabio referred the bill to the senate committee on constitution review for further legislative action.

The committee was directed to report back to the chamber on the next legislative day.

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