Wednesday, 19 July 2017

Court Orders Forfeiture Of Properties Of Former Nigerian Petroleum Minister

By Ipoola Ayodeji

A Federal High Court based in Lagos State has ordered the interim forfeiture of an estate in Banana Island area of the Lagos state linked to former Minister of Petroleum, Mrs Deizani Alison Madueke.

According to reports, Mrs Diezani and her cronies have fraudulently siphoned about $11Billion from offshore processing agreements (OPAs) popularly known as oil swap. The report also stated that during her stay in office, Nigeria lost about $50 billion in the petroleum sector.

The court also ordered the forfeiture of money that been fraudulently siphoned by the former Minister during her stay in office.

Justice Chuka Obiozor who presided over the case made the forfeiture order after listening to an exparte application brought by the Head of Legal of the Economic and Financial Crimes Commission, (EFCC) Mr Anselm Ozioko.

A directive has also been given to the EFCC to publish the court orders in newspapers so that any interested party who does not want the money to be permanently forfeited to the Federal Government could appear in court within 14 days.

Reports also made it known that the former minister will be ready to name over 200 accomplices who helped and participated in the alleged fraud.

The case was adjourned to August 7, 2017 for anyone interested in the property and funds to appear before him.

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