Seven banks ordered by Court to remit N249.6 billion hidden for Unknown Government Officials to FG

Seven banks have been ordered by the Federal High Court to remit the sum of N249.6 billion hidden for Unknown Government Officials to the Federal Government of Nigeria.

Justice Chuka  Obiozor made the order following an ex parte application by the Office of the AGF,Attorney General of the Federation.

Obiozor warned that the order would be made permanent on the 8th of August provided there's no reason it should not be.




Prof. Yemi Akinseye-George (SAN),who represented the Attorney General(AGF) accused commercial banks for keeping up to that sum for Unknown Government Officials.

The banks involved are;

United Bank for Africa (UBA), Diamond Bank Plc, Skye Bank Plc, First Bank Limited, Fidelity Bank Plc, Keystone Bank Limited and Sterling Bank Plc.

According to reports,

$367.4m was hidden by three government agencies in UBA

$41m was kept in a National Petroleum Investment Management Services (NAPIMS) fixed deposit account with Skye Bank.

$277.9m was kept in Diamond Bank

$18.9m was kept First Bank

$24.5m was kept in Fidelity Bank

$17m was kept in Keystone Bank

$46.5m was kept in Sterling Bank.