Diezani Loses $37.5m Banana Island Property, Money to FG

Ladipo Sanusi/

Former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, has been ordered to kiss goodbye to a $37.5 million sky-scrapper on Banana Island, Lagos.

The ruling at the Federal High Court, in Lagos today, says the building owned by Diezani must be forfeited to the Federal Government (FG).

Justice (Professor) Chuka Obiozor also ordered that the sums of $2,740,197.96 and N84, 537, 840.70 realised as rents on the property should equally be forfeited to the FG.

The orders followed a motion on notice argued before the Judge by the Economic and Financial Crimes Commission (EFCC) lawyers.

The anti-graft agency had on July 19, 2017,  obtained a court order to temporarily seize the property located at Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate, which is said to have 24 apartments, 18 flats and six penthouses.

The judge had directed that the temporary forfeiture order be published in a newspaper before it adjourned till Monday for anyone interested in the property and funds to appear and convince the court why they should not be permanently forfeited.

At the resumed hearing of the matter on Monday, the EFCC lawyer, Mr. Anselem Ozioko, told Justice Obiozor that the publication order had been complied with. He added that no one contested the forfeiture order.

“In summary, it appears as if they are not willing to contest this application,” Ozioko said, urging Justice Obiozor to go ahead and order the permanent forfeiture of the property and the funds.

In a short ruling, Justice Obiozor granted the orders.

The judge held, “In the face of the publication, which I find in Exhibit B of the affidavit of compliance before me, and there being no responses from any interested party, I have no other option but to grant the orders as prayed.”

The EFCC had earlier told the judge that the Banana Island mansion was reasonably suspected to have been acquired with proceeds of unlawful activities by Diezani.

The anti-graft agency said its investigations revealed that Diezani purchased the property sometime in 2013 at the price of $37.5 million, which she paid in cash.

According to the EFCC, the $37.5million was moved straight from Diezani’s house in Abuja and paid into the seller’s First Bank account in Abuja.

The lawyer said, “Nothing could be more suspicious than someone keeping such huge amounts in her apartment. Why was she doing that? To avoid attention?”

 

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