STERLING BANK V. ECONOMIC AND FINANCIAL CRIMES COMMISSION

ABDULLAHI MUHAMMAD LIMAN, J.C.A. (Delivering the Leading Judgment): The Respondent as Applicant on the 27th day of November, 2023 commenced this suit before the Federal High Court, Kebbi Judicial Division, sitting in Kebbi by way of Motion Ex-Parte as an action in rem seeking a preservative order of funds reasonably, according to it, suspected to have been derived from unlawful activity pursuant to Sections 9 and 10 of the Proceeds of Crime (Recovery and Management) Act, 2022 and Section 44(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria as amended.

Specifically, at the Court below, the Respondent (as Applicant) prayed for:

1. AN ORDER OF THIS HONOURABLE COURT, PRESERVING the sum of Thirty-Six Million, Four Hundred and Thirty-Three Thousand, Two Hundred and Ninety-Five Naira,(N36,433,295.00) which is reasonably suspected to have been derived from unlawful activity, passed on to Sterling bank PLC.

2. AN ORDER OF THIS HONOURABLE COURT, PRESERVING the sum of Thirty-Five Million,…