Diezani Forfeited N34 billion to Federal Governement

According to a report from Premium Times, A federal court in Lagos has ordered the final forfeiture of $5 million, N9.08 billion and N23.4 billion (around N34 billion in total) traced to Diezani Alison-Madueke who was a former petroleum minister

Justice Muslim Hassan, on Thursday, February 16, after being satisfied with the Economic and Financial Crimes Commission’s (EFCC) evidences presented, gave a “final forfeiture order” on the funds that were proceeds of illegitimate activity.

It would be remembered that on January 6, Justice Hassan issued an interim order of forfeiture of the sum of $153.3 million to the federal government, resulting from an exparte application by EFCC in quest of similar relief.

EFCC had applied for temporary order for the temporary forfeiture to the FG, of the funds which it claims is connected to Diezani.

According to the EFCC, The money seized was stolen from the Nigerian National Petroleum Corporation (NNPC) and hidden in three banks in Nigeria, in Naira and US dollar.

Furthermore, EFCC has also claimed to have discovered a property in Banana Island, Lagos worth a massive $37.5million (about N11.75bn) which it reportedly belongs to the former oil minister. The building was said to have been acquired between 2011 and 2012 a company, YF Construction Development and Real Estate.