Rejoinder: No hidden NAPIMS and NPDC funds in Sterling Bank

Our attention has been drawn to reports in certain online publications of an order by the Federal High Court sitting in Lagos on Thursday 20th July 2017 mandating Sterling Bank Plc to remit the sum of US$46.5m (Forty Six, Million, Five Hundred Thousand United States Dollars Only) to a designated Federal Government Asset Recovery Account with the Central Bank of Nigeria. The sum in question supposedly represents undisclosed qualifying funds under the Federal Governmentโ€™s Treasury Single Account (TSA) policy illegally kept by the National Petroleum Investment Management Services (NAPIMS) and Nigerian Petroleum Development Company (NPDC).


We wish to state unequivocally that Sterling Bank does not hold any sum in any currency as a deposit from either of these entities.

We have therefore written formally to the Office of the Accountant General of the Federation (AGF) demanding a clarification of this claim and a correction in the interest of the general public.
Thank you.
Henry Bassey (HB)
Chief Marketing Officer
Brand Management & Communications Group
9th Floor,ย Sterling Towers
Sterling Bank Plc.
20 Marina, Lagos

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