EFCC reportedly traces $88m from Alison-Madueke to Sterling Bank MD, Yemi Adeola

The Economic and Financial Crimes Commission (EFCC) has reportedly traced more than $88 million to a hidden account managed by the Managing Director and Chief Executive Officer (CEO) of Sterling Bank of Nigeria, Yemi Adeola.

The said money was transferred to Mr. Adeola from Fidelity Bank of Nigeria, whose managing director, Nnamdi Okonkwo, was last week detained by the EFCC.

Mr. Okonkwo has been granted bail.

SaharaReporters reports that the $88 million found at Sterling Bank was separate from the $115m given to Fidelity Bank by the ex-oil minister, Diezani Alison-Madueke.

According to the reports, the funds were used to bribe officials of the Independent National Electoral Commission (INEC) to rig the 2015 presidential election for ex-President Goodluck Jonathan.

A source disclosed that Mr. Adeola had kept the $88m as an “off-record” transaction.

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