Access, Fidelity and Sterling Bank to forfeit USD153 million Diezani loot

The trio of Access, Fidelity and Sterling Bank are to forfeit about USD153 million allegedly looted by Diezani Alison-Madueke.

Diezani Alison-Madueke was Nigeria’s former Minister of Petroleum Resources during the regime of Goodluck Jonathan which ended in 2015.

The temporary forfeiture order was granted by a federal High Court in Ikoyi, Lagos which ruled that the sum of $153m was stolen by Diezani Alison-Madueke, from the treasury of Nigerian National Petroleum Corporation (NNPC).

The staggering nature of the amount is said to be disturbing given the fact that the total sum will be taken away from the banking system. A break down of the total sum shows that NGN23billion was kept with Sterling Bank Plc; N9billion was found in First Bank Plc, and $5m was found in an account with  Access Bank Plc.

Subsequently, Justice Muslim Hassan gave the three affected banks a 14-day ultimatum and ny other interested parties to prove the legitimacy of the monies before his court, else the funds would be permanently forfeited to the federal government of Nigeria.

All the three banks have not issued any statement on the matter. Last year,  Cross of these banks were allegedly arrested and questioned by the Economic and Financial Crimes Commission.

Diezani Alison-Madueke escaped to the United Kingdom where she is currently facing charges of money laundering. She might be extradited to Nigeria after her trial.

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