Nigeria, Feb. 11 -- The Lagos State Special Offences Court in Ikeja has ordered the forfeiture of 6.3 billion units of ordinary shares in Keystone Bank Limited, valued at N1 each, to the federal government.

The ruling, delivered by trial judge Rahman Oshodi was part of a plea bargain agreement between the Economic and Financial Crimes Commission (EFCC) and Sigma Golf Nigeria Limited, following the company's guilty plea through its chairman, Umaru Modibbo.

The court also convicted and wound up Sigma Golf Nigeria Limited, forfeiting its 6.25 billion units of Keystone Bank shares to the federal government.

Mr Modibbo, the founder of Sigma Pensions Nigeria Ltd, was arraigned alongside former Asset Management Corporation of Nigeria (AMCON) ...