Francis Atuche, former Managing Director of Bank PHB, has forfeited funds N19, 178, 253, 050. He also forfeited 22 firms.
The Economic and Financial Crimes Commission (EFCC) traced the funds to 24 banks in both Nigeria and London.
The anti-graft body consequently applied to the Lagos High Court and before Justice Lateefat Okunnu for a freeze order.
The court granted the order and equally instructed the affected banks to disregard instructions from Atuche.
Moreover, the EFCC listed persons it claimed Atuche used as fronts to launder funds.
They are Anthony Atuche, Emeka Patrick Atuche, Paul Okobi, Felix Oyiana, Moruf Kazeem Adisa, Olatunji Abiodun, and Daniel Enebeli.
Others are Aina Olugbenga, Augustine Nwabueze, Omonua Benedict, Oliver King Nduaaron, Dr Chris Ike Ogbechie, Murat Bektaslar Attah Omataikpo Olukemi and Thomas Etuh.
Atuche, alongside his accomplice Ugo Anyanwu, is currently serving six years for stealing N25.7 billion belonging to the bank.