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Friday, 17 February 2017

Alison Diezeni Madueke loses $153mil to Federal Government

The Federal High Court in Lagos yesterday ordered the forfeiture of $153million allegedly belonging to former Minister of Petroleum Resources Mrs Diezani Alison-Madueke to the Federal Government.

The Economic Financial Crimes Commission (EFCC) said the money was laundered for the former minster.

Justice Muslim Hassan held that the money was a product of unlawful activity and ordered the forfeiture of unclaimed N23.4billion, $5million as well as $40million (the naira equivalent of which is N9.08billion).

EFCC said the laundered money was $153million, some of which was converted to naira.The former Minister had allegedly siphoned the money from the Nigerian National Petroleum Corporation ,NNPC, and stashed in three banks, including Sterling Bank Plc.

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