The Federal High Court in Lagos has granted an interim order for seven commercial banks to remit a total of $793,200,000, which they allegedly hid in violation of the Constitution and the Treasury Single Account (TSA) policy of the Federal Government.

In giving the order, Chuka Obiozor, the Presiding Justice, ordered the banks to remit the money to the designated CBN Asset Recovery Dollars Account.

The affected banks include Skye Bank Plc, First Bank Plc, Keystone Bank Plc, Diamond Bank Plc, Sterling Bank Plc and Fidelity Bank Plc.

The interim order was given after the court listened to an ex-parte application filed by Yemi Akinseye-George, a Professor and counsel to the Attorney General of the Federation.

While arguing the application, Akinseye-George said it would best serve the interest of justice for the court to order the banks to remit the funds to the Federal Government to prevent the funds from being diverted, misapplied, stolen or misappropriated.

He also stressed that the withheld funds were urgently required by the Federal Government for executing the 2017 budget.

After listening to him, Justice Obiozor granted the interim orders.

He also directed that the order should be published in a national daily.