News
High Court Orders Final Forfeiture of N81.1m Stolen From Sterling Bank To FG
High Court Orders Final Forfeiture of N81.1m Stolen From Sterling Bank To FG
Justice Yelim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Monday, March 9, 2026, ordered the final forfeiture of the sum of N81,108,143.8( Eighty-one Million One Hundred and Eight Thousand One Hundred and Forty-three Naira Eight Kobo) to the Federal Government of Nigeria in favour of Sterling Bank Plc.
The judge gave the order, following a motion on notice filed by the Economic and Financial Crimes Commission, EFCC, through its counsel, Hannatu U. KofarNaisa.
The court had, on October 2, 2025, granted an interim forfeiture order of the fund 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.
The money was part of the over N2,500,000,000 ( Two Billion Five Hundred Million Naira) stolen by some customers of Sterling Bank and transferred to their own use as well as to the use of some third party beneficiaries, owing to a system glitch experienced by the bank.
Upon receipt of a petition from the bank on July 18, 2022 by the Commission, investigations had 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.
Moving the motion for the final forfeiture order on Monday, counsel to the EFCC, H.U. KofarNaisa stated that the application was supported with an affidavit deposed to by Maina Gapani Gyal, an investigator with the EFCC.
In the affidavit, Gyal stated that he was one of the operatives of the Commission assigned to investigate the petition received on July 18, 2022 by the Commission from the bank in respect of 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.”
She 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.
KofarNaisa also told court 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.
Justice Bogoro, after listening to the submissions by KofarNaisa , held that “having gone through the motion and attachments, I find the application meritorious and the 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.
Economy
Pensioners Threaten Nationwide Protest, Demand Governors Urgently Review Payment
Pensioners Threaten Nationwide Protest, Demand Governors Urgently Review Payment
The National Association of Retirees of State Governments has threatened a nationwide protest unless state governors urgently review pension payments in line with existing labour laws.
Simon Anchaver, president of the union, made the call in Yenagoa at the inauguration of the Bayelsa interim executive of the newly registered union.
The union demanded that the 36 state governors prioritise pension payments.
They equally called on President Bola Tinubu to establish a ministry for pension affairs to guarantee annual budgetary allocations for pensioners’ welfare.
Eereporter.com
The union bemoaned the arbitrary payment of pensions by some governors, and commended the Nasarawa state governor for releasing N7 billion to clear pension arrears and gratuity.
Its national secretary, Bipre Ndiomu, said the union was newly registered and currently inaugurating state executives. He urged state governors to put in place the modalities to guarantee the welfare of pensioners across the country.

Protest Demolition
Bayelsa’s head of service, Wisdom Sawyer, urged the executive to serve as a bridge between retirees and the government, adding that the state government was open to engagement on outstanding issues.
The newly inaugurated state chairman, Bazigha Tanwei, accepted the mandate and promised an open-door policy, regular consultations with members, and sustained advocacy with the state government to clear arrears.
Economy
Financial Literacy: NNPC Foundation Trains Batch A Stream 2 Corps Members
Financial Literacy: NNPC Foundation Trains Batch A Stream 2 Corps Members
In continuation of its Corporate Social Responsibility (CSR) initiatives on financial literacy, the NNPC Foundation Ltd./Gte has conducted its second 2026 National Youth Service Corps (NYSC) skills empowerment training for Batch A, Stream 2 corps members at the FCT NYSC Orientation Camp, Kubwa, Abuja, over the weekend.
Delivered in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) scheme, the programme covers financial literacy, entrepreneurship, and business development. Its training structure also includes a financial literacy test, a “Kick Start My Business” course, and business proposal pitching.
Eereporter.com
Managing Director of NNPC Foundation, Emmanuella Arukwe, who was represented by the Head, Programme Management, Rose Okonkwo, noted that over one million corps members have been trained nationwide through the programme.
Acting Director of SAED, Usman Yahaya, commended the NNPC Foundation for its consistent support, urging the corps members to acquire multiple skills during their service year in order to position themselves as job creators and not job seekers.

NNPC, NYSC
It would be recalled that last year, 531 youths received Starter Packs and financial support to help them launch their businesses, with most beneficiaries recording measurable progress across their various enterprises.
The NNPC Foundation Ltd./Gte has, through the financial literacy programme, sustained its commitment to preparing young Nigerians towards sustainable careers and self-reliance, contributing to national economic growth and development.
News
CAS Reaffirms Commitment To Aircraft Safety, Operational Excellence At NAF Airworthiness Seminar
CAS Reaffirms Commitment To Aircraft Safety, Operational Excellence At NAF Airworthiness Seminar
The Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, has restated his unwavering commitment to enhancing operational safety and sustaining peak combat readiness through rigorous training, strict adherence to airworthiness standards, and the continuous modernisation of the Nigerian Air Force (NAF).
Air Marshal Aneke made this known on Tuesday, 28 April 2026, while declaring open a two-day Airworthiness Seminar organised by the Aircraft Engineering Branch at Headquarters Nigerian Air Force, Abuja. The seminar brought together senior engineering officers, maintenance commanders, logistics experts, and key aviation stakeholders to deliberate on strategies aimed at improving aircraft safety, fleet sustainability, and operational readiness across the Service.
Speaking at the event, the CAS, represented by the Chief of Policy and Plans, Air Vice Marshal AY Abdullahi, emphasised that airworthiness remains non-negotiable in the effective projection of decisive air power, stressing that the safety and reliability of NAF platforms are critical to mission success in ongoing counter-terrorism and internal security operations nationwide. He noted that the seminar aligns with his command philosophy of transforming the Nigerian Air Force into a more capable, professional, and mission-ready fighting force through innovation, discipline, and high operational standards.
Eereporter.com
Air Marshal Aneke further stated that the institutionalisation of stringent maintenance procedures, continuous capacity development, and a strong culture of professionalism, anchored on purposeful lethality, mission effectiveness, and sustained combat capability, will remain enduring principles guiding the Service into the future.

NAF Airworthiness Seminar
A major highlight of the seminar was a technical presentation delivered by Mr Clementi Giorgio, Executive Chairman, Chief Technology Officer, Experienced Test Pilot, Flight Test Engineer, and Flight Test Instructor from the International Test Pilot School, Ontario, Canada.
During his presentation, Mr Giorgio shared global best practices on flight test safety, airworthiness certification, and emerging technologies in aircraft maintenance management.
The seminar is expected to further strengthen the NAF’s maintenance culture, operational efficiency, and readiness to meet contemporary air power demands in defence of the nation.
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