Court Orders Final Forfeiture of ₦81.1 Million in Fraud Case

On March 9, 2026, Justice Yelim Bogoro of the Federal High Court in Ikoyi, Lagos State, issued a final forfeiture order for ₦81,108,143.80 in a fraud case involving Sterling Bank PLC. This followed a motion filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel Hannatu U Kofarnaisa.

The funds were part of ₦2.5 billion that was stolen due to a system glitch at Sterling Bank, with the EFCC initiating an investigation after the theft was reported on July 18, 2022. The investigation identified Sulaiman Kehind Ojora as a major beneficiary of the fraud, with funds concealed in accounts belonging to friends and family, including Taiwo Oluwaseyi Alawod and Aminat Olatanwa Ojora.

An interim forfeiture order was granted on October 2, 2025, allowing the public to show cause against the final forfeiture. The court ultimately ruled in favor of the federal government, confirming the funds were proceeds of unlawful activities.