Published On: Mon, Aug 7th, 2017

Court Orders Final Forfeiture Of $37.5Million Property Belonging To Former Petroleum Minister, Diezani Alison-Madueke

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By Sadiq Umar – A Federal High Court in Lagos has permanently forfeited to the federal government a $37.5million Banana Island property bought in 2013 by a former Minister of Petroleum Resources, Diezani Alison-Madueke.

Former Nigeria’s Petroleum Minister

A vacation judge, Justice Chuka Obiozor, gave the order Monday following a motion on notice argued by the Economic and Financial Crimes Commission (EFCC).

The property, Building 3, Block B, Bella Vista Plot 1, is located at Banana Island Foreshore Estate, Lagos.

The judge also ordered that the sums of $2,740,197.96 and N84, 537,840.70 realised as rents on the property be permanently forfeited to the federal government.

The order followed the expiration of deadline earlier given by the court for the publication of notice for anyone to come forward to claim ownership of the property.

EFCC urged the court at the resumed hearing that since no one has come forward to claim the property, the full forfeiture order be granted.

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