Diezani Forfiets $37.5m Banana Island Property Permanently


A Federal High Court sitting in Lagos has ordered the permanent forfeiture of a $37.5m property on Banana Island in Lagos, allegedly belonging to a former Minister of Petroleum Resource, Mrs Diezani Allison-Madueke.

Justice Chuka Obiozor ordered the permanent forfeiture of the property to the Federal Government on Monday after the Economic and Financial Crimes Commission argued a motion on notice before him.

The property, identified as building 3, Block B, Bella Vista Plot 1, Banana Island Foreshore Estate, has 24 apartments, 18 flats and six penthouses, according to prosecutors.

Justice Obiozor had on July 19 ordered the temporary forfeiture of the property after listening to an exparte application brought by the EFCC’s Head of Legal, Mr Anselm Ozioko.

He also directed the EFCC to publish the order in the newspapers so that any interested party who does not want the money to be permanently forfeited to the Federal Government could appear in court within 14 days.

He then adjourned proceedings till today.

At the resumed hearing, Ozioko informed the court that the EFCC had published the order in the papers as directed, but the respondents did not show up to contest the order.

Leave a Reply