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 stated 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.
Famzn News 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.
As stated by 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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