Thursday, November 23, 2017
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Former Nigerian minister to forfeit N7.6 billion of assets

Lifestyle News

Former Minister of Petroleum Resources, Diezani Alison-Madueke has been in trouble for some time and now, the trouble looms larger than ever. Now she’s said to be losing up to N7.6 billion of her wealth, which Nigerians believe is stolen from Nigeria…

Diezani Allison-Madueke, Nigeria's Minister of Petroleum. www.medianet.info [Photo: ynaija.com]

A Lagos Division of the Federal High Court on Monday ordered the permanent forfeiture of N7.6 billion to the Nigerian government, money suspected to belong to former Minister of Petroleum Resources, Diezani Alison-Madueke.

Justice Abdulaziz Anka gave the order sequel to an application filed by the Economic and Financial Crimes Commission, EFCC, seeking the final and permanent forfeiture of the funds to the federal government.

The anti-graft agency in its supporting affidavit stated that an investigation based on intelligence reports it received discovered that the N7.6 billion in the accounts of some banks were actually proceeds of unlawful activities held and laundered through Gbenga Komolafe, former Group Managing Director, Crude Oil Marketing Division of the Nigerian National Petroleum Corporation; Haruna Momoh, former Group Managing Director, Petroleum Products Management Company; Umar Farouk Ahmed, Group Managing Director of Nigerian Products Marketing Company (NPMC) on behalf of Mrs. Alison-Madueke.

The judge’s decision came days after he also ordered an interim forfeiture of 56 houses linked to the former minister valued at N3.3 billion.

It would be recalled that the federal court presided over by Justice Chuka Obiozor had on August 7 ordered the temporary forfeiture of the money to the federal government following an ex-parte application argued before him by the EFCC.

Mr. Obiozor had earlier ordered the permanent forfeiture of a $37.5 million property on Banana Island allegedly belonging to Mrs. Alison-Madueke.

The EFCC had in the application alleged that Mrs. Alison-Madueke stashed the money in some banks.

The anti-graft agency further alleged that the federal government had since February last year, through an order granted by another judge of the federal high court, Muslim Hassan, recovered part of the money stashed in banks across the country by the former minister.

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