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

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A Federal High Court Sitting in Lagos, has ordered the temporary forfeiture of two penthouses valued at $4.760million allegedly owned by former Minister of Petroleum, 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 forfeited to the Federal Government pending the conclusion of EFCC’s investigation into the ownership of the properties.

 

The anti-graft agency believes that the former Minister purchased the properties using proceeds from fraudulent activities while in office.

 

The EFCC in an Ex parte application brought for the forfeiture of the properties lists Diezani Alison-Madueke, Donald Amagbo, Schillenburg LLC, and Sequoyah Property Limited, as respondents.