BREAKING: Court strikes out FG’s case against 7 commercial banks

The Federal High Court Sitting, Lagos, has struck out a suit filed by the Federal Government against seven commercial banks.

The FG previously sought 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 the FG and in favour of all the affected banks except Skye Bank which was not represented in court.

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