The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has approached the Federal High Court seeking the forfeiture of N1.3 billion allegedly stashed in a Sterling Bank account without proper registration. The commission argues that the funds, linked to officials of the Kaduna State Government under the administration of former Governor Nasir El-Rufai, should be permanently forfeited to the Federal Government.
In an affidavit filed by Litigation Officer Idris Abubakar, the ICPC disclosed that it received a petition implicating key figures from the Kaduna State Government in financial misconduct. The petition, attached as Exhibit ICPC 1, triggered an extensive investigation into the matter.
According to the ICPC, a preliminary probe led investigators to retrieve critical financial records from Sterling Bank. The documents were carefully analyzed, revealing a purported joint venture agreement involving the Kaduna State Government. The agreement, signed on October 18, 201, raised concerns over the legitimacy of transactions linked to the undisclosed account where the N1.3 billion was allegedly hidden.
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The ICPC maintains that the funds are subject to forfeiture as they are suspected to be proceeds of financial misconduct. The commission has urged the court to compel any entity claiming ownership of the funds to justify its legitimacy, failing which the money should be permanently seized by the government.
This latest move underscores the ICPC’s intensified crackdown on corruption and financial irregularities within government institutions. The case is expected to attract widespread attention as legal proceedings unfold in the coming weeks.
