A Federal high court has ordered the final forfeiture of N7.6 billion kept in Sterling Bank and allegedly belonging to former Minister of Petroleum resources, Diezani Alison-Madueke.
The court sitting in Lagos and presided over by Justice Chuka Obiozor, gave the judgment on Monday.
The judge had also recently ordered the permanent forfeiture to the federal government, of a $37.5 million sky-scrapper in Banana Island, Lagos, allegedly owned by Diezani.
The Economic and Financial Crimes Commission (EFCC) had linked the money to Diezani. It told the judge through an ex parte application that the N7.6 billion was part of the $153,310,000 which Diezani allegedly siphoned from the Nigeria National Petroleum Corporation (NNPC) in 2014, as Petroleum Resources Minister.
According to the commission, Diezani had the money kept in three banks, and that the Federal Government had since February last year, through an order granted by another judge, Muslim Hassan, recovered part of the money.
The EFCC then prayed the court to mandate Sterling Bank to release to the Federal Government the said sum still in its custody.
Justice Obiozor, who had earlier granted a temporary forfeiture of the funds, however on Monday ordered that the money be permanently forfeited to the Federal Government.
RipplesNigeria… without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: Inside UNILAG’s multi-million naira budgetary abuse and academic discord
The University of Lagos located in Nigeria’s commercial capital, Lagos, has been embroiled in controversies with allegations bothering on misappropriation of...
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...