Anti-graft agency, EFCC has in the ongoing battle against corruption recovered a sum of N5 billion from Yemi Adeola, the CEO of Sterling Bank Plc who was arrested on Thursday by the agency.
The Economic and Financial Crimes Commission, EFCC, in its investigation found out and traced the sum of $88 million to a hidden account which was later found out to be in control of Adeola.
According to further investigation by the agency, the said amount was revealed to have been transferred to the Sterling Bank CEO from Fidelity Bank.
Recall that the EFCC has an ongoing investigation into a $115 million election bribery Scandal with Fidelity Bank, but the newly uncovered $88 million transfer from the bank is a separate financial transaction which was kept off-record.
According to reports, the anti-graft agency is now getting set to clamp down on the officials of Sterling bank in connection with the new doing illegal transaction especially as they had shut down their individual computers to avoid access to the institution’s financial records.