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Court orders Alison-Madueke forfeit $108m

Lagos High Court issues order against former Nigerian oil minister in relation to alleged corruption

Former Nigerian oil minister Diezani Alison-Madueke has been ordered to forfeit more than $100 million to the federal government after it was allegedly “siphoned off” from the state player Nigerian National Petroleum Corporation (NNPC).

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The country’s corruption watchdog the Economic & Financial Crimes Commission (EFCC) revealed on Friday that Alison-Madueke, who has been at the centre of a graft probe for years, lost a ruling in relation to the monies on Thursday.

The Federal High Court in Lagos ruled that the ex-minister of petroleum resources must forfeit a sum of 34 billion naira ($108.02) to the Abuja government. The sum is comprised of various smaller amounts in both naira and US dollar, including $5 million.

“The former minister had allegedly siphoned the money from the (NNPC) and stashed in three banks, including Sterling Bank,” the EFCC wrote.

The anti-graft commission had said earlier this month that it has “recorded another breakthrough” in its probe into alleged corruption against Alison-Madueke, claiming to have uncovered a $37.5 million property owned by her in the plush Lagos neighbourhood of Banana Island.

Court orders Yakubu’s $9.8m be forfeited

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The 15-storey property was allegedly acquired by Alison-Madueke between 2011 and 2012 from a property development company through a shell company controlled by a lawyer at a Lagos firm.

Earlier this week the EFCC said a 3 February raid on a property in Kaduna owned by ex-NNPC group managing director Andrew Yakubu had yielded $9.8 million stashed in a fireproof safe. A court in Kano this week ordered the money to be forfeited to the federal government.