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See List Of 7 Nigerian Banks Hiding N250 Billion Loot For Corrupt Politicians & Government Officials

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See List Of 7 Nigerian Banks Hiding N250 Billion Loot For Corrupt Politicians & Government Officials

nigerian banks hiding loots corrupt politicians

July 21, 2017 – See List Of 7 Nigerian Banks Hiding N250 Billion Loot  For Corrupt Politicians & Government Officials

  • A Federal High Court in Lagos yesterday ordered seven banks to remit to the Federal Government $793,200,000 (about N249,659,700,000.00) allegedly hidden with them in breach of the Treasury Single Account (TSA) policy.
  • A vacation judge, Justice Chuka Obiozor, made the interim order following an ex parte application by the office of the Attorney-General of the Federation (AGF).
  • The judge warned that the remittance order would be made permanent on August 8, unless cause was shown why it should not.

The AGF, through his counsel, Prof. Yemi Akinseye-George (SAN), accused the commercial banks of illegally keeping the sums in their custody for “unknown government officials”.

Justice Obiozor ordered the banks to remit the money to the designated Federal Government’s Asset Recovery dollars account domiciled with the Central Bank of Nigeria (CBN).

The banks 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 court processes filed by Akinseye-George (SAN), $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.

The documents stated that $277.9m was in Diamond Bank, $18.9m in First Bank, $24.5m in Fidelity Bank, $17m in Keystone Bank, and $46.5m in Sterling Bank.

The AGF’s application was supported by a 15-paragraph affidavit deposed to by a lawyer from Akinseye-George’s law firm, Vincent Adodo.

Adodo averred that the banks colluded with Federal Government officials to hide the funds in breach of the TSA policy.

The funds, he stated, were revenues, donations, transfers, refunds, grants, taxes, fees, dues, tariffs etc accruable to the Federal Government from ministries, departments, parastatals and agencies.

Adodo said the banks failed to remit the funds to the TSA domiciled in the CBN in violation of the guidelines issued by the Accountant-General of the Federation, which fixed September 15, 2015 as the deadline for such funds to be moved.

“The 1st to 7th respondents (banks), in collaboration with and/or collusion with unknown officials of the Federal Government, conspired to disobey the relevant constitutional provisions, thereby depriving the Government of the Federal Republic of Nigeria of funds belonging to it, which are needed urgently to fund pressing national projects under the 2017 budget,” Adodo said.

Among the allegedly culpable government agencies is the National Petroleum Developing Company (NPDC).

Moving the ex parte application yesterday, Akinseye-George said it would best serve the interest of justice for Justice Obiozor to order the banks to remit the funds to the Federal Government, to prevent the funds from being moved or dissipated.

“The withheld funds are urgently required for the implementation of the 2017 budget. The budget has a lifespan of 12 months and we are already in the middle of the year.

“By hiding these hidden funds, the Federal Government is being forced to borrow money from these commercial banks at exorbitant interest rates,” Akinseye-George added.

After listening to the SAN, Justice Obiozor granted the interim orders.

He directed that the order should be published in a national daily newspaper.

The judge adjourned till August 8 “for anyone interested in the funds to appear” before him “to show cause why the interim orders should not be made permanent”.




  1. Bose Adekola

    July 21, 2017 at 8:00 AM

    I had been wondering when funny banks attrocities will come to light.CBN ,as far as I’m concerned’ has given immunity to some banks and one wonders if it has not been the case of ‘money changing hands. If not, why would a bank like Diamond be entering an ulterior practices list just now? When the foreign exchange was never a problem 5 or 6 years ago, they would never give you-even this year that it has been yafun yafun, they would find excuses.Someone close to me begged Diamond for just 1,500 dollars (out of the 4000 entitled to)in April this year and could not get after begging—as a customer o– for 3 weeks. It will take the grace of God to help us in Nigeria because corruption has become our bosom friend and that is rather unfortunate.

  2. iron bar

    July 21, 2017 at 11:29 AM


  3. Mon

    July 21, 2017 at 2:04 PM

    They have to check well if this money is still in Nigeria, this their recovery is not sounding good anymore,this government is doing everything to score credit as election is getting nearer and people have lost interest with their leadership.

    The Youths of Nigeria should not allow this uprising initiated by Nnamdi Kanu(IPOB)go in vain, it’s not only going to benefit the Biafrans,but all the regions in Nigeria, let a neutral person emerge from each region to claim their destiny, all these politicians are united and wants to keep every Nigerian in darkness, the restructuring is only a deceit to hang where they are,just imagine,appointing El-rufai as restructuring committee chairman,with Okorocha as member,are they not joking?
    Finally,let us not allow ourselves to be fooled again with this their recovery drama,even if they do,it will still be shared among themselves.BIAFRA MUST BE TO SAFE PEOPLE FROM NIGERIA AND AFRICA IN GENERAL

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