Former minister of petroleum, Mrs. Diezani Alison- Madueke has finally lost the N34billion allegedly owned by her, which the Economic and Financial Crimes Commission, EFCC, said was a product of fraud and illegal activities.
The Lagos Federal High Court on Thursday ordered permanent forfeiture of N23.4 billion, N9.08 billion, and $5 million (N34 billion in total) allegedly belonging to Mrs. Alison-Madueke.
Justice Muslim Hassan, who had ordered a temporary forfeiture on January 6, gave the final forfeiture order” on the funds.
The judge said he was satisfied with the Economic and Financial Crimes Commission’s argument that the monies were proceeds of illegal activity.
On January 6, Justice Hassan had granted an ex parte application sought by EFCC lawyer, Rotimi Oyedepo for a temporary forfeiture of the funds to the Federal Government and to order Sterling Bank and Mr. Lawal, who were joined as defendants in the application, as well as any other interested parties, to appear in court within two weeks to show cause why the funds should not be permanently forfeited to the Federal Government.
Justice Hassan granted the order and adjourned till January 24, 2016 for the respondents to appear in court to show cause why the funds should not be permanently forfeited to the Federal Government of Nigeria. But they failed.