Breaking News: Diezani Looses N34 Billion To FG In Court Judgement

The former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has been stripped of a sum of $153,310,000 (N34 billion) alleged to have been diverted from Nigeria's oil revenue by the Federal High Court in Lagos.

The judgement passed by Justice Muslim Hassan ordered that huge amount be permanently forfeited to the Federal Government as requested by the Economic and Financial Crimes Commission, EFCC who traced the money to three commercial banks in the country where it was kept in the sums of N23,446, 300,000, N9,080,000,000 and $5m.

According to the EFCC, the money was proceeds of criminal activity, hence the anti-graft agency had approached Justice Hassan with forfeit application on January 6, 2016.

Justice Hassan granted the interim forfeiture order after he gave 14 days for anyone to step forward and claim ownership to the money and show cause why the money should not be permanently forfeited to the FG.

When the case was heard on January 24, 2017, no one came to court to claim ownership of the huge sum. Except for the Executive Director, Public Sector Accountant, First Bank Plc, Mr. Dauda Lawal, who was joined as the second respondent in the suit.

Lawal appeared in court through his lawyer, Mr. Charles Adeogun-Phillips, to claim the N9,080,000,000.

Defense Attorney Adeogun-Phillips appeal to the Judge that the EFCC misrepresented facts in urging the court to order the forfeiture of the N9,080,000,000 belonging to his client as proceeds of crime.

According to him, his client was arrested by the agency and coerced to sign an undertaking to make a refund N9.08bn to the Federal Government as a condition for his release, adding that his client had to raise the money from associates.

After pleading his case, Adeogun-Phillips urged the Judge to order the release of the money to his client.

The Court Verdict

In his Judgement on Thursday February 16, Justice Hassan stated thus:

“I hereby make an order pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2016, for final forfeiture of the unclaimed sum of N23, 426, 300.000 and five million United States dollars to the Federal government finally.

He rejected the plea by Attorney Phillips due to lack of evidence,. Therefore, Hassan ordered for the final forfeiture of the unclaimed sum of N23, 426, 300.000.00, to the Federal Government of Nigeria, including the sum of N9.08bn recovered from the second respondent, Mr. Lawal.

The Justice thanked the EFCC for the good work and urged the government to ensure the money turned to good use to benefit Nigerians.