The court has permanently forfeited the money, part of a $153.3 million loot, to the Federal Government.
Justice Chuka Obiozor ordered the permanent forfeiture on Monday, August 28, 2017, after the Economic and Financial Crimes Commission (EFCC) filed an ex parte application accusing the former minister of looting the money from the Nigerian National Petroleum Corporation (NNPC).
The sum of money was kept in a Sterling Bank account, and is alleged to be part of a $153.3 million loot stashed away in three separate banks.
Justice Obiozor had ordered the interim forfeiture of the fund on Wednesday, August 9, providing any interested party with the chance to convince the court not to permanently forfeit the sum to the Federal Government.
The EFCC has been able to recover the sums of N23.4 billion, $5 million and another N9.08 billion out of the $153.3m.
The anti-graft agency has obtained court rulings that have ordered the seizure of properties and funds linked to the former minister over the past few months.
Justice Obiozor ordered the interim forfeiture of the N7.6 billion only days after a Federal High Court, also in Lagos, ordered the permanent forfeiture of a $37.5m Banana Island mansion owned by the former minister on Monday, August 7.
In addition to the building, the court also ordered the permanent forfeiture of the sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property.
On Tuesday, August 8, the EFCC revealed that its operatives discovered boxes of gold, silver and diamond jewellery from the Abuja residences of the former minister.
At the request of Nigerian authorities, a London court also ordered the forfeiture of three London properties worth £10 million that were linked to the minister.