Federal High Court in Lagos has granted an interim order for seven commercial banks in Nigeria, to remit a total of $793m allegedly hidden with them, in violation of the constitution and the Treasury Single Account (TSA) policy of the Federal Government.
Presiding Judge, Justice Chuka Obiozor yesterday directed the banks to remit to the designated CBN Asset Recovery Dollars Account, various amounts allegedly kept in their custody illegally.
The interim order was given after the court listened to an ex-parte application filed by counsel to the Attorney General of the Federation, Professor Yemi Akinseye-George.