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High Court Orders Final Forfeiture of N1.2bn Stolen From Sterling Bank

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N1.2bn Stolen From Sterling Bank

High Court Orders Final Forfeiture of N1.2bn Stolen From Sterling Bank

High court orders final forfeiture of N1.2bn stolen from Sterling Bank. Justice D.I.Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sum of N1,292,798,746.81 (One Billion , Two Hundred and Ninety-two Million, Seven Hundred and Ninety-eight Thousand , Seven Hundred and Forty-six Naira , Eighty-one Kobo ) to the Federal Government of Nigeria in favour of Sterling Bank Plc.

The money had been criminally withdrawn by some individuals owing to a system glitch experienced by Sterling Bank Plc.

Upon receipt of a petition received by the Commission from the bank alleging a N2.5bn theft, investigation led to the identification and tracing of the theft of funds to various accounts.

The sums sought to be forfeited were domiciled in M Sharif Inter-Trading and Marketing Company Ltd.’s UBA account (N900,00,000); Mustapha Abubakar’s UBA account ( N255,872,842.84); Mustapha Sharif Abubakar’s UBA account (N12,195,093); Mustapha Sharif Abubakar’s Jaiz Bank (N41,119,917.13); Abubakar Mustapha Sharif’s First Bank account ( N19,069,567.73) and Mustapha Sharif Abubakar’s Sterling Imal ( the alternative bank account ( N 30,850,158.12).

The Judge gave the order, following a motion on notice dated January 8, 2025 and filed by the Economic and Financial Crimes Commission, EFCC, through its counsel, Hannatu U. KofarNaisa.

The court had, on March 12 , 2025, granted an interim forfeiture order of the funds and also directed the publication of the same in a national newspaper for 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, counsel to the EFCC told the court that the money was reasonably suspected to have been proceeds of unlawful activities.

N1.2bn Stolen From Sterling Bank

N1.2bn Stolen From Sterling Bank

 

KofarNaisa also told court that the Commission had published the interim forfeiture order in The Punch newspaper of March 24, 2025 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.

Justice Dipeolu , after listening to the submissions by KofarNaisa , held that “having gone through the motion and attachments, I find the application meritorious and same is accordingly granted.”

Consequently, the Judge ordered the final forfeiture of the money to the Federal Government of Nigeria in favour of Sterling Bank Plc.

Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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EFCC Arrests 10 Suspects,  Trucks for  Suspected  Illegal Mining Activities in Kwara

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EFCC Arrests 10 Suspects

EFCC Arrests 10 Suspects,  Trucks for  Suspected  Illegal Mining Activities in Kwara

Operatives of the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested ten individuals suspected of involvement in illegal mining activities along the Ilorin – Ogbomosho axis.

They were arrested on  Sunday, February 1, 2026, following credible intelligence on unlawful mineral excavation and transportation in parts of Kwara and Oyo States.

The suspects, comprising  nine truck drivers and one escort were intercepted and taken into custody in a well -coordinated sting operation. Solid minerals arrested with the suspects  include lithium, tin, and lepidolite.

EFCC Arrests 10 Suspects

EFCC Arrests 10 Suspects

The suspects have no requisite licences, permits, or regulatory approvals for their mining activities.

Other items recovered from the suspects are trucks loaded with the unlawfully mined materials.

The suspects will be charged to court upon the conclusion of investigations.

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List Of 40 Suspects Detained Over Alleged Plot To Overthrow Tinubu Government

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Tinubu Has Directed Us To Rebuild National Security Architecture

List Of 40 Suspects Detained Over Alleged Plot To Overthrow Tinubu Government

List of 40 suspects detained over alleged plot to overthrow Tinubu Government. Nigerian security agencies have concluded investigations into an alleged coup plot to overthrow President Bola Tinubu’s administration, with at least 40 suspects detained in connection with the conspiracy.

The suspects include senior military officers, a police officer, and several civilians accused of roles ranging from reconnaissance and funding to propaganda.

According to a Premium Times report, the arrests followed a covert intelligence operation coordinated by the Army Headquarters and the State Security Service (SSS).

“Thirteen people were apprehended by the SSS, including two military personnel (one retired), one policeman, and ten civilians,” one source said.

In total, 16 serving military officers were detained for direct involvement, while others were linked to funding and incitement. Two civilians were reportedly recruited to incite civil unrest intended to justify the coup.

According to the online newspaper, one of the detained soldiers was said to have escaped custody but was later rearrested by SSS operatives in Bauchi State, according to insider accounts.

Recall that on Monday, the Defence Headquarters (DHQ) confirmed that the investigation had been completed and forwarded to “appropriate superior authority in line with extant regulations.”

“Findings identified several officers with allegations of plotting to overthrow the government,” the military said, describing the act as “inconsistent with the ethics, values and professional standards required of members of the Armed Forces of Nigeria.”

Sources said authorities are now awaiting presidential approval to constitute a court-martial panel to try the indicted soldiers.

Investigations revealed that the coupists initially planned to disrupt the May 29, 2023 handover ceremony from former President Muhammadu Buhari to President Tinubu, but the plan was shelved due to lack of funds and logistics.

The conspiracy was allegedly reactivated in 2025, after former Bayelsa State Governor Timipre Sylva purportedly transferred nearly ₦1 billion through multiple Bureau De Change accounts to fund the operation.

Sylva and a retired senior officer identified as Major General Adamu, both accused of bankrolling the plot, are reportedly at large.

Security sources said one of the fugitive suspects has been tracked to a South American country, though his precise location remained undisclosed for security reasons.

Investigators also uncovered a chilling plan to assassinate top government officials, including President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, and House Speaker Tajudeen Abbas.

“They were waiting for a day when all of them would be in the country. Wherever they were, they would be assassinated,” one source revealed.

The plot allegedly relied on informants inside the Presidential Villa, who monitored the movements of top officials. The conspirators were to seize control of strategic locations such as the Presidential Villa, Niger Barracks, Armed Forces Complex, and Nnamdi Azikiwe International Airport.

Tinubu Has Directed Us To Rebuild National Security Architecture

Military

Hereunder is the full list of the alleged coupists arrested

MA Sadiq (Brigadier General)  Army  lHeadquarters Garrison

MA Ma’aji (Colonel) Defence Space Administration

S Bappah (Lt. Colonel) 525 Signal Regiment

AA Hayatu (Lt Colonel) 130 Battalion Main, Ogoja, Cross River State

P Dangnap (Lt Colonel) 134 Special Force Battalion

M Almakura (Lt Colonel) 197 Special Force Battalion

AA Jarma (Lt Colonel) CO, 35 Battalion Katsina

SM Gana (Lt Colonel) 115 Task Force Battalion

AD Dauda (Maj) Armed Forces Command and Staff College Jaji

JM GANAKS (Maj) Armed Forces Command and Staff College Jaji

AJ Ibrahim (Maj) Army Headquarters’ Department of Policy and Plans

MM Jiddah (Maj) 26 Battalion

MA Usman (Maj) 35 Battalion

D Yusuf (Maj) Forward Operating Base Molai (AHQ SG)

J Iliyasu (Maj) 3 Division Garrison

A Mohammed (Maj) 63 Brigade Garrison

DB Abdullahi (Lt Cdr) Naval Base Abuja

SB Adamu (Sqn Ldr) National Counter Terrorism Centre (NCTC)

NG Zuzu (Sqn Ldr) Headquarters, Nigeria Air Force Camp

G Binuga (Captain) 1 NMF Brigade

AA Yusuf (Captain) Nigerian Army of the School of Finance and Administration (NASFA)

1 Bello (Captain) 82 Division Garrison

SS Felix (Lt) 81 Division Provost Group

J Aminu (Lt) Headquarters Directorate of Army Public Relations (DAPR)

Nasiru Ibrahim (WO) 82 Division Garrison

Sanda Usman (Sgt) 167 Special Force Battalion

Mohammed Zubairu (Sgt) 177 Guards Battalion

Momoh Audu (Cpl) 343 Artillery Regiment

Ahmed Ibrahim (Inspector) 24 Police Mobile Force, Presidential Villa

EO Victor (Navy Capt/Rtd) 3 Abraham Avenue off Odili Road, Port Harcourt

Umoru Zekeri Julius Berger, Villa Electrician

Y Nasiru (LCpl) 82 Division Garrison

Sambo Danladi (LCpl) 82 Division Garrison

Abdul Abdullahi (SSgt) 82 Division Garrison

Ali Isah Villa Ambulance Driver

ML Mohammed (Capt) 18 Battalion

UI Yusuf (Wg Cdr) International/Helicopter Flying School, Enugu

IM Gana (Maj Gen Rtd) No 34 A Army Estate, Kubwa, Abuja

Stanley Kingley Amandi Propagandist

Goni Bukar

Security sources confirmed that joint operations involving multiple agencies are underway to dismantle remaining cells and track fleeing suspects. The EFCC and SSS are also interrogating several civilians over alleged roles in funding, logistics, and coordination.

At least 25 military personnel are expected to face trial in connection with the plot, according to sources close to the investigation.

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