Diezani Alison-Madueke loses $37.5m Banana Island property to FG

Hehe.........A Lagos Federal High Court has ordered permanent forfeiture of a $37.5m property on Banana Island in the state belonging to ex- Minister of Petroleum Resources, Diezani Alison-Madueke, to the Federal Government.

In his ruling on Monday, Justice Chuka Obiozor also ordered that the sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property be forfeited to the Federal Government.

The judge gave the order following a motion on notice which was argued by the Economic and Financial Crimes Commission, EFCC.
Counsel to EFCC, Anselem Ozioko, informed the court that the publication order had been complied with and no one has contested the forfeiture order.
Urging the court to order a permanent forfeiture of the property and funds, Ozioko said, “In summary, it appears as if they are not willing to contest this application.”
Delivering on the application, Justice Obiozor held that, “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.”

Ozioko had earlier told the court that Diezani procured the Banana Island mansion with proceeds of unlawful activities.
The lawyer noted that investigations revealed that the former Minister purchased the property sometime in 2013 at the price of $37.5m, which she paid in cash.
Ozioko informed the court that $37.5m was moved straight from Diezani’s house in Abuja and paid into the seller’s First Bank account in Abuja.
“Nothing could be more suspicious than someone keeping such huge amounts in her apartment. Why was she doing that? To avoid attention.

“We are convinced beyond reasonable doubt because as of the time this happened, Mrs. Diezani Alison-Madueke was still in public service as the Minister of Petroleum Resources,” Ozioko said.