Court orders forfeiture of N7.6bn linked to Alison-Madueke

The Federal High Court, Lagos has ordered the interim forfeiture of N7,646,700,000 said to have been hidden in Sterling Bank Plc.

The Economic and Financial Crimes Commission (EFCC) linked the illegal acquisition to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

According to Channels Television, the Commission who wanted the money forfeited to the Federal Government told Justice Chuka Obiozor via an ex parte application that the N7.6 billion was part of a sum of $153,310,000 which Diezani allegedly siphoned from the coffers of the Nigerian National Petroleum Corporation sometime (NNPC) in 2014.

[Read Also: We have traced N47.2bn, $487.5m to Diezani – EFCC]

The EFCC also alleged that Mrs. Alison-Madueke stashed the money in three banks, and the Federal Government had since February last year, through an order granted by another judge, Justice Muslim Hassan also of the Federal High Court, recovered part of the money from the other banks.

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