The Federal High Court sitting in Ikoyi, Lagos, on Monday, March 9, 2026, ordered the final forfeiture of N81,108,143.80 to the Federal Government of Nigeria in favour of Sterling Bank Plc.
The court issued the order after considering an application seeking the permanent forfeiture of the funds following the conclusion of investigations into transactions linked to the money.
The sum had earlier been placed under interim forfeiture during the course of legal proceedings while authorities examined the circumstances surrounding the funds.
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In its ruling, the court held that the application for final forfeiture was justified and directed that the money be permanently forfeited to the Federal Government in favour of the bank.
The judge noted that the decision followed the review of submissions and documentary evidence presented before the court, which established grounds for the forfeiture under applicable financial and anti-corruption laws.
With the order, the legal process concerning the disputed funds has been concluded, paving the way for the enforcement of the forfeiture in line with the court’s directive.