N5Billion Recovered From Yemi Adeola, Sterling Bank MD

The Economic and financial crimes commission has successfully recovered a sum of N5 billion naira from embattled Sterling bank CEO, Yemi Adeola who was arrested on Thursday.

Investigations reveal that a total sum of $88 million was traced to a hidden account managed by Adeola.The money was transferred to him from Fidelity Bank.The $88 million found at Sterling Bank is separate from the $115m given to Fidelity Bank by the Diezani Alison-Madueke.


These funds were earmarked to bribe officials of the Independent National Electoral Commission (INEC) to rig the 2015 presidential election in favor of Goodluck Jonathan. Adeola had kept the $88m as an "off-record" transaction. The anti-graft agency is getting poised to arrest some other staff of Sterling bank who reportedly shut down their computers when the officials of the commission stormed the bank headquarters.This was to prevent them from having access to bank and transaction records.

Source: dumebiifeanyi

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