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Jewellery Forfeited By Ex-Petroleum Minister Diezani Valued At N14.4bn, Houses $80m –EFCC

The Economic and Financial Crimes Commission, EFCC says the pieces of jewellery seized from a former Minister of Petroleum Resources, Diezani Alison-Madueke, have been valued at about N14.460 bn.

Chairman of the EFCC, AbdulRasheed Bawa, disclosed this to the House of Representatives on Friday.

The EFCC boss had appeared before an ad hoc committee of the House, probing the status of recovered loot during an investigative hearing.

There was disbelief when he mentioned the “estimated value” of the jewellery, as members of the committee and the audience took in what they heard.

The EFCC boss further told the committee that the houses finally forfeited by the Ex-minister have been valued at about $80m.

Bawa said the assets are in the custody of the commission and have not been sold.

The House of Reps committee is assessing the status of all recovered loot moveable and immovable assets from 2002-2020 by agencies of government.

recall that a Federal High Court in Lagos had in September 2019 granted a final forfeiture of the jewellery to the federal government

Justice Nicholas Oweibo ruled that Deziani failed to show cause why the jewellery should not be forfeited to the federal government.

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