Diezani Alison-Madueke To Permanently Forfeit N7.6 Billion Recovered Loot To Federal Government

The Federal High Court in Lagos has ordered the final forfeiture of a sum of N7,646,700,000 loot by a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, to the federal government. On August 9, 2017, Justice Chuka Obiozor granted an order temporarily forfeiting the money to the federal government.Justice Obiozor’s order followed an ex parte application argued before him by EFCC. He adjourned till today for the bank and any other interested party to appear before him to show cause why the funds should not be permanently forfeited to the federal government.
The EFCC told the judge that the N7.6 billion was part of a sum of $153,310,000, which Mrs. Alison-Madueke allegedly siphoned from the coffers of NNPC sometime in 2014. The anti-graft agency said she stashed the money in three banks, adding that the federal government had since February last year, through an order by Justice Muslim Hassan of the Federal High Court, Lagos recovered part of the money from the other banks.