Court forfeits $16.4m assets linked to ex-minister

A Federal High Court in Lagos has ordered the interim forfeiture of assets valued at $16,441,906 linked to former Minister of Petroleum Resources,

The Economic and Financial Crimes Commission (EFCC) had submitted the order to Justice Abdulaziz Anka, arguing that the assets are suspected to be proceeds of corruption.

This is not the first time assets or funds linked to the former minister will be forfeited to the Federal Government.

On Wednesday, August 9, 2017, Justice Chuka Obiozor of a Lagos Federal High Court also ordered the interim forfeiture of the sum of N7,646,700,000 linked to Alison-Madueke after the EFCC filed an ex parte application.

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This ruling came only days after a Federal High Court, also in Lagos, ordered the permanent forfeiture of a $37.5m Banana Island mansion owned by the former minister on Monday, August 7.

In addition to the building, the court also ordered the permanent forfeiture of the sums of $2,740,197.96 and N84,537,840.70 realised as rents on the property.

On Tuesday, August 8, the EFCC revealed that its operatives discovered boxes of gold, silver and diamond jewellery from the Abuja residences of the former minister.