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The Federal High Court Sitting in Lagos has struck out a suit filed by the Federal Government against seven commercial banks. to seek the remittance of the sum of $793,200,000 allegedly hidden with them in contravention of the Treasury Single Account policy.
Justice Chuka Obiozor struck out the suit on Wednesday morning and awarded a cost of N200,000 against FG and in favour of all the affected banks except Skye Bank which was not represented in court.
The Federal had sued the banks seeking the remittance of the sum of $793,200,000 allegedly hidden with them in contravention of the Treasury Single Account policy. (Channelstv)
