Former Minister of Petroleum Resources, Diezani Alison-Madueke's forfeited N14.5 billion worth of jewellery is up for sale.

According to the Economic and Financial Crimes Commission (EFCC), who made the disclosure, international auctioneers are to sell the jewellery recovered from the former minister.

Ibrahim Magu, EFCC's Acting Chairman, said the auctioneers would also sell off the luxury houses recovered from Alison-Madueke and other fraud suspects.

EFCC boss, Ibrahim Magu, is confident the auction process will be transparent [Sahara Reporters]
EFCC boss, Ibrahim Magu, is confident the auction process will be transparent [Sahara Reporters]

Speaking at the commission’s Lagos Office during an EFCC stakeholders’ conference on crusade against cybercrime fraudsters, Magu noted that the presence of ‘internationally certified’ auctioneers would make the process transparent.

As reported on Pulse, the former minister had lost the pieces of jewellery to the Federal Government. This was after a Federal High Court sitting in Lagos had temporarily forfeited the pieces of jewellery to the government in July pending hearing on a permanent forfeiture.

Despite contesting the temporary forfeiture in court, Justice Nicholas Oweibo ruled on Tuesday, September 10, 2019 that Alison-Madueke failed to show cause why the sets of jewellery should not be permanently forfeited. Thus, he ordered the final forfeiture of it to the Nigerian government.

The anti-graft agency had seized the jewellery sets during a raid on Alison-Madueke's home located at 10 Fredrick Chiluba Close, Asokoro, Abuja, on the suspicion of being acquired with proceeds of unlawful activities.

The jewellery forfeited include 419 bangles, 315 rings, 304 earrings, 267 necklaces, 189 wristwatches, 174 necklaces and earrings, 78 bracelets, 77 brooches, and 74 pendants. A customised gold iPhone was also forfeited to the government.