Lagos federal high court empowers federal government to seize Diezani's $37m Banana Island estate

FORMER petroleum minister Diezani Alison-Madueke has forfeited a $37.5m Banana Island estate she bought in 2013 to the federal government after a Lagos high court ordered that the surrender it.

In a case brought against Ms Alison-Madueke by the Economic and Financial Crimes Commission (EFCC), the federal high court ruled that the estate was purchased with public funds. Vacation judge, Justice Chuka Obiozor, made the order today, ruling in favour of the EFCC motion.

In addition, the judge also ordered that the sums of $2,740,197.96 and N84, 537,840.70 realised as rents on the property be permanently forfeited to the federal government. Since leaving office in 2015, Ms Alison-Madueke has been the subject of EFCC investigations and subsequently fled to the UK to avoid arrest.

She is currently out on bail after being charged with money laundering by the UK authorities and faces the prospect of her properties in London being seized too if she is found guilty. Last week, Ms Alison-Madueke lashed out at two of her associates for putting her in this dilemma as their ostentatious display of wealth is what drew the spotlight on to them.