The Nation reports that available intelligence says funds in the account were used by IPOB for its activities across the world.
Some Nigerians were also discovered to have made huge deposits into the account in support of the group.
It also reports that the French ambassador to Nigeria Denys Gauer on Friday met with information minister Lai Mohammed, and while the details of the meeting were not clear yet, France was said to have given Nigeria some assurances on IPOB.
It also said it would take action when IPOB's secret account was revealed to it because it was not aware of its existence.
The Nation quoted a top security source as saying:
From the said account, funds were being drawn for the activities of IPOB at home and abroad. The relevant security agencies did a thorough job and provided incontrovertible evidence on the basis of which the government proscribed the terrorist organisation.
These Nigerians in the Diaspora are using France as a clearing house.
Investigations also confirmed inflows into the account from Holland, Hungary, Hong Kong, Malaysia, Turkey, Singapore and other parts of Europe.
In fact, a football tournament was recently organised in Senegal to raise funds for IPOB.
As a matter of fact, the account is being used to get money from a lot of people in the Diaspora.
What many Nigerians did not know is that the Minister of Information and Culture was talking on the basis of credible intelligence report.