The Federal High Court in Lagos has ordered seven commercial banks to temporarily remit more than seven hundred and ninety million dollars allegedly hidden with them.
This is in contravention of the government’s Treasury Single Account policy.
Justice Chuka Obiozor told them to remit the funds to designated Asset Recovery dollars account domiciled with the Central Bank of Nigeria.
The concerned banks are United Bank for Africa; Diamond Bank Plc; Skye Bank Plc; First Bank Limited; Fidelity Bank Plc; Keystone Bank Limited; and Sterling Bank Plc.
Advertisement
According to the court, the funds were gotten from revenues, donations, transfers, and monies accruable to the Federal Government from different ministries, departments, parastatals and agencies.
Related posts:
Lagos State decries Incessant Contravention of Building Regulations
Gbajabiamila expresses concern over ‘hidden charges’ by banks
Hidden N19.3BN Kogi Salary Bail Out Funds returned to CBN – EFCC
Angola: Supreme court orders seizure of Dos Santos’ assets over alleged corruption
Court orders interim seizure of properties, $50,000 from farmers Leader
Ronaldinho’s financial troubles – Judge orders seizure of passport
Court orders banks to hand over $153.3m Diezani fund to FG
Governors tackle NFIU over directive to banks on LG funds
