Court orders forfeiture of Diezani’s Banana Island estate, $37.5m

The Federal High Court sitting in Lagos has ordered a temporary forfeiture of  an estate in Banana Island area of Lagos reportedly owned by former Minister of Petroleum, Diezani Alison Madueke.

The court also ordered the forfeiture of $37.5m alleged to have been fraudulently siphoned by the former minister.

The property, designated as Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate, has 24 apartments, 18 flats and six penthouses, according to court papers presented on Wednesday by the Economic and Financial Crimes Commission.

Justice Chuka Obiozor ordered the temporary forfeiture on Wednesday, following an ex parte application to that effect brought before him by a counsel for the EFCC, Mr. Anselem Ozioko.