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High Court Orders Final Forfeiture of N81.1m Stolen From Sterling Bank To FG

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N1.2bn Stolen From Sterling Bank

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.”

N1.2bn Stolen From Sterling Bank

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.

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EU Ambassadors Explore Kannywood’s Potential to Drive Youth Employment in Northern Nigeria

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EU Ambassadors Explore Kannywood’s Potential to Drive Youth Employment in Northern Nigeria

KANO, Nigeria – A delegation of European diplomats under the banner of Team Europe has visited Kano Film Village to assess the growing role of Kannywood in creating jobs, developing skills, promoting education and driving social change across northern Nigeria.
The delegation was led by the European Union Ambassador to Nigeria and ECOWAS, Gautier Mignot, and included ambassadors and deputy ambassadors from Denmark, Spain, Italy, France, Czechia, Finland, Belgium and Austria.
The visitors were received by the Executive Secretary of the Kano State Films and Video Censorship Board, Alhaji Abba El-Mustapha, and the Managing Director of the Nigerian Film Corporation, Ali Nuhu.
During the visit, the diplomats engaged with filmmakers, actors, producers and industry regulators. They also observed the production of Hindatu, a film centred on a young girl determined to pursue her education and become a medical doctor despite pressure from her family to marry early.
Speaking during the tour, Ambassador Mignot emphasized the power of storytelling and the creative arts in shaping attitudes and promoting positive social values.
“Stories have the power to inspire change. Films that promote education, opportunity and inclusion can spark important conversations and encourage positive change within communities,” he said.
He noted that creative industries are not only important for cultural expression but also serve as engines of economic growth and youth empowerment.
“Creative industries are about jobs, skills, entrepreneurship and creating opportunities for young people. Across Nigeria, young people are demonstrating remarkable talent and creativity, and industries such as Kannywood are helping transform that potential into livelihoods and economic opportunity,” Mignot added.
Alhaji Abba El-Mustapha highlighted Kannywood’s contribution to both economic development and the promotion of positive social values. He disclosed that the Kano State Films and Video Censorship Board has approved more than 10,000 films over the years while supporting the industry through training programmes, workshops and stakeholder engagement.
“Our role is not only regulatory. We also work with filmmakers to strengthen professional standards, support capacity development and ensure that films contribute positively to society,” he said.
The delegation also toured Kano Film Village, a production facility established by broadcaster and filmmaker Abdullaziz Dansmall. The facility was created to provide filmmakers with a dedicated environment for efficient film production.
According to Dansmall, the project began with revenue generated from the production of Gidang Haya, which was reinvested to gradually expand the facility.
“Our long-term ambition is to transform the site into a fully developed film village capable of supporting larger productions,” he said.
Ali Nuhu, Managing Director of the Nigerian Film Corporation, described Kannywood as a major contributor to youth employment in Kano State, citing research that ranked film production as the second-largest employer of young people after agriculture.
He said the industry’s impact extends beyond entertainment by supporting businesses and livelihoods across the creative value chain.
Nuhu also identified challenges facing the sector, particularly in distribution and access to modern production facilities, while noting that filmmakers have increasingly embraced digital platforms as traditional DVD markets continue to decline.
The visit comes as the European Union expands cultural cooperation between Africa and Europe through initiatives such as the Africa-Europe Partnerships for Culture (AEPC), a €30 million programme designed to support artist mobility, cultural spaces and collaboration between African and European creative professionals.
The EU says the initiative reflects its growing recognition of culture and creative industries as important drivers of economic opportunity, innovation and social development.

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Obi: Nigerians Arrested While Transiting Through Ethiopia’s Airport In Search Of Greener Pastures

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Peter Obi

Obi: Nigerians Arrested While Transiting Through Ethiopia’s Airport In Search Of Greener Pastures

Presidential candidate of the Nigeria Democratic Congress, Peter Obi, alleges that an overwhelming number of Nigerians were arrested while travelling through Addis Ababa’s international airport in search of greener pastures abroad.

Mr Obi stated this in a statement on Tuesday while hailing the successful completion of a prisoner exchange agreement between Nigeria and Ethiopia.

“A significant number were arrested while transiting through Addis Ababa’s Bole International Airport in search of green pastures,” Mr Obi stated.
Eereporter.com

“While we commend this humanitarian intervention, it serves as a reminder of a larger systemic crisis. The overwhelming majority of these citizens are young Nigerians. A significant number were arrested while transiting through Addis Ababa’s Bole International Airport in search of greener pastures,” the politician stated.

Nigeria and Ethiopia had signed an agreement to facilitate the transfer of prisoners between them, in line with their respective laws and international obligations.

Magnus Eze, special assistant on communication and new media in the Office of the Minister of Foreign Affairs, disclosed this in a statement days ago.

Mr Obi described the agreement as a refreshing humanitarian intervention.

“The news of the conclusion of the prisoners exchange between Nigeria and Ethiopia is refreshing,” the NDC chieftain added. “Every life is precious, and ensuring the constitutional right to human dignity for all Nigerians – regardless of where they are or the circumstances they find themselves in – must remain a cornerstone of our national foreign policy.”

The politician, who commended the efforts of Nigeria’s foreign affairs and justice ministers, Bianca Odumegwu-Ojukwu, attorney general Lateef Fagbemi, also lauded their Ethiopian counterparts for finally concluding the protracted negotiations.

The politician, however, condemned the death of at least four Nigerians who lost their lives in custody while the diplomatic and administrative process dragged on over the past few years.

He further decried the harsh circumstances forcing young Nigerians out of the country.

Peter Obi

Peter Obi

“While we must continuously urge our citizens to remain law-abiding and respect the laws of host nations wherever they travel or reside, we must also ask ourselves a hard question: What drives our young and productive population into desperate circumstances across the globe?” Mr Obi stated.

The NDC chieftain advocated genuine rehabilitation and societal reintegration for prisoners, stressing the need for a country characterised by genuine economic opportunities, a functional education system, and an environment where hard work is rewarded.
Eereporter.com

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NPF Arrest Man For Sharing Fake Video Of Bandit Attack In Ekiti

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NPF Arrest Man For Sharing Fake Video Of Bandit Attack In Ekiti

The Ekiti State Police Command has arrested a man, Sunday Olawale, over allegedly spreading fake news of bandits’ attack on Are Ekiti in the Irepodun Ifelodun Local Government area of the state.

The Police Public Relations Officer, Sunday Abutu, said in a statement in Ado Ekiti on Tuesday that the suspect, who confessed to the crime, had been unable to give a reason for the false information.
Eereporter.com

Abutu stated, “The Police Command wishes to reiterate that there was no bandit invasion in Are Ekiti or any part of the Ekiti State”.

The statement reads in part: “On 14th of June, 2026, the Command Rapid Response Squad trailed and arrested one Sunday Olawale at Ekute area of Ado Ekiti for cyberstalking and giving of false information intended to cause breakdown of law and order.

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“During the investigation, the suspect confessed to having peddled the false information on social media and was unable to give any satisfactory reason for his action.

“The State Commissioner of Police, Michael Falade, while warning that the Command will not tolerate any act of fake news peddling or content capable of initiating panic among members of the public, advises members of the public to always verify information they believe or share on social media,” the PPRO stated.
Eereporter.com

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