A Federal High Court sitting in Lagos has ordered the final forfeiture of N1.29 billion to the Federal Government in favour of Sterling Bank Plc, following allegations of fraudulent withdrawals due to a system glitch.

According to a statement released on Saturday by the Economic and Financial Crimes Commission (EFCC), Justice Deinde Dipeolu granted the final forfeiture order after hearing a motion on notice dated January 8 and filed by EFCC counsel, Hannatu KofarNaisa.

The funds were reportedly part of a larger sum of N2.5 billion unlawfully withdrawn by certain individuals after a system malfunction at the bank.

Acting on a petition from Sterling Bank, the EFCC launched investigations that led to the tracing of the stolen funds to several bank accounts.

The affected accounts include:M Sharif Inter-Trading and Marketing Company Ltd’s UBA account (N900 million),Mustapha Abubakar’s UBA account (N255.8 million),Mustapha Sharif Abubakar’s UBA account (N12.2 million),Jaiz Bank account (N41.1 million),First Bank account (N19 million), and and Sterling Bank Imal account (N30.8 million).

An interim forfeiture order was earlier granted by the court on March 12, with the directive that it be published in a national newspaper to allow any interested parties to contest the forfeiture. The publication appeared in The Punch on March 24.

KofarNaisa told the court that no objections were filed, and urged the court to grant the final forfeiture as the funds were reasonably suspected to be proceeds of unlawful activities.

Justice Dipeolu, in his ruling, said, “Having gone through the motion and attachments, I find the application meritorious and same is accordingly granted,” ordering the final forfeiture of the N1.29 billion to the Federal Government.

The Northern States Governors’ Forum (NSGF) has urged the National Assembly to expedite the passage of the bill aimed at establishing state police forces.

During a joint meeting with members of the Northern Traditional Rulers’ Council in Kaduna on Saturday, Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, emphasized the need for this legislative action. He also called for a comprehensive review of the nation’s security strategy to effectively address the recent surge in Boko Haram attacks and violent incidents in the north-central region.

Yahaya indicated that the forum reached a consensus regarding tax reform bills, highlighting the collaborative efforts involved. He commended President Bola Tinubu for engaging with stakeholders and reaffirmed his commitment to inclusive governance.

Through platforms such as the Nigeria Governors’ Forum and the National Economic Council, Yahaya stated that a productive path forward has been identified, emphasizing the importance of a cooperative approach in managing intergovernmental relations for the benefit of the populace.

The Gombe governor expressed significant concern over the state of infrastructure in Northern Nigeria, noting that many previously awarded projects have suffered from neglect. While recognizing President Tinubu’s dedication to completing key infrastructure initiatives, such as the Kaduna-Kano-Katsina-Maradi rail line and the Abuja-Kaduna-Kano expressway, he pointed out that other vital projects, including the Port Harcourt-Maiduguri rail line and the Kano-Maiduguri expressway, remain unaddressed.

Yahaya stressed the necessity for innovative financing solutions, such as public-private partnerships and infrastructure bonds, to bridge the existing gaps and establish a robust foundation for agricultural production and industrial growth.

In a communiqué issued after the meeting, the forum declared its intention to create inter-state platforms aimed at enhancing surveillance along shared borders. Additionally, they resolved to collaborate with the Nigerian Governors’ Forum to develop strategies for bolstering support for federal security forces.

The forum reiterated its backing for the establishment of state police, urging the National Assembly to take swift action in enacting the necessary legal framework for its implementation.

Currently, the state police bill is under consideration in the National Assembly, proposing to move the term “police” from the exclusive legislative list to the concurrent list in the 1999 Constitution (as amended).

However, some critics caution that such a system could be misused by state governors to suppress dissent. Supporters argue that state police would empower local authorities to effectively address security challenges without relying solely on federal intervention.

Two members of the 135 Special Forces Battalion are currently under investigation for suspected collaboration with ISWAP terrorists, raising significant concerns about national security in Yobe State.

Security operatives intercepted and analyzed the soldiers’ phone conversations, which indicated their involvement in the May 9 abduction of commuters along the Gashua–Azare highway.

A reliable source involved in the investigation reported that the soldiers allegedly disclosed the movements of their patrol team along the Buratai–Kamuya–Azare–Gashua route, facilitating an ambush by ISWAP fighters that temporarily hindered civilian travel until a counter-offensive successfully dispersed the terrorists.

Security analyst and counter-insurgency expert Zagazola Makama indicated that this betrayal likely allowed the terrorists to orchestrate the ambush. However, the same battalion’s troops quickly intervened, leading to the rescue of four kidnapped civilians and the recovery of weapons and equipment.

Military authorities have initiated a comprehensive internal inquiry into the incident. The two soldiers are presently in custody, and their identities are being withheld pending further investigation.

This development has raised alarms about potential internal sabotage and underscores the urgent need for enhanced intelligence monitoring within military ranks to prevent future breaches and safeguard the integrity of ongoing counter-terrorism efforts in the North-East.

A senior security official emphasized, “The system will not tolerate any uniformed personnel found collaborating with enemies of the state. The fight against insurgency must be supported by unwavering loyalty and trust.”