Court Orders Final Forfeiture of N81.1m to FG

On October 2, 2025, Justice Yelim Bogoro of the Federal High Court in Ikoyi, Lagos, issued an order for the final forfeiture of N81,108,143.80, which was stolen from Sterling Bank PLC. This decision followed a motion filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel Hannatu U Kofarnaisa.

The funds were part of a larger sum of N2.5 billion that was fraudulently transferred due to a system glitch on July 18, 2022. The EFCC's investigation identified Sulaiman Kehind Ojora as a major beneficiary of the fraud, who concealed N43 million in an account belonging to Taiwo Oluwaseyi Alawod.

The court granted the interim forfeiture order after the EFCC demonstrated that the funds were linked to unlawful activities. The final forfeiture order was made in favor of the Federal Government, allowing the recovery of the stolen funds.