Court orders forfeiture of Diezani Alison-Madueke’s Banana Island properties worth $4.7m

A Federal High Court in Lagos has ordered the temporary confiscation of two penthouses worth $ 4.760 million that would be owned by the former oil minister, Diezani Alison-Madueke. Justice Mojisola Olatoregun, ordered that the two properties: Penthouse 21 Building 5, Block C, 11th Floor (Bella Vista Estate) Banana Island, Ikoyi, and Penthouse 22, Block B (Admiralty Estate) also in Ikoyi, Lagos, be confiscated in the Federal Government pending the conclusion of the EFCC Property Ownership Inquiry.   The anti-graft agency estimates that the former minister bought the properties using the proceeds of fraudulent activities during his tenure.   The EFCC, in an ex parte application, requested the confiscation of the Diezani Alison-Madueke property listings, Donald Amagbo, Schillenburg LLC and Sequoyah Property Limited, as defendants. ...




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