The federal government on Monday filed a notice to discontinue its case against 7 banks accused of hiding the sum of 3,200,000 (about N249,659,700,000) from the Treasury Single Account (TSA). Counsel to the federal government who filed the notice of discontinuance at the Federal High Court in Lagos said the government had decided to explore an “out of court settlement” with the banks in the public interest.The government had in July accused the banks – United Bank for Africa Plc, Diamond Bank Plc, Skye Bank Plc, First Bank Ltd, Fidelity Bank Plc, Keystone Bank Ltd and Sterling Bank Plc – of hiding the dispute sum on behalf of ‘unknown government officials.’The dispute sum was said to be revenue accruing to the federal government which ought to have been paid into the TSA but was hidden in the 7 banks, in obvious contravention of the TSA policy.Photo Credit: Getty