Federal Court Orders Forfeiture of Diezani’s Banana Island Mansion

The Federal High Court in Lagos has on Wednesday ordered the seizure of a property located in Banana Island area of Lagos State belonging to former Minister of Petroleum Resources Allison-Madueke Diezani.

According to Punch, the property, was bought in 2013 for $37.5m.

The property reportedly contains 24 apartments, made up of 18 flats and 6 penthouses, according to court documents presented at the court by the Economic and Financial Crimes Commission (EFCC).

The court also ordered the seizure of funds amounting to $2,740,197.96 and N84,537,840.70, which was reportedly rent received on the property.

Anselem Ozioko, counsel for EFCC, told the judge Justice Chuka Obiozor that Diezani made the $37.5m payment for the purchase of the property in cash, moving the money from her house into the seller’s account in First Bank, both in Abuja.

He said:

Nothing could be more suspicious than someone keeping such huge amounts in her apartment. Why was she doing that? To avoid attention.

We are convinced beyond reasonable doubt because as of the time this happened, Mrs. Diezani Alison-Madueke was still in public service as the Minister of Petroleum Resources.

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