DIEZANI: Fed. High Court Orders Final Forfeiture Of N7.6bn Kept In Sterling Bank

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A Federal high court has ordered the final forfeiture of N7.6 billion kept in Sterling Bank and allegedly belonging to former Minister of Petroleum resources, Diezani Alison-Madueke.
The court sitting in Lagos and presided over by Justice Chuka Obiozor, gave the judgment on Monday.
The judge had also recently ordered the permanent forfeiture to the federal government, of a $37.5 million sky-scrapper in Banana Island, Lagos, allegedly owned by Diezani.
The Economic and Financial Crimes Commission (EFCC) had linked the money to Diezani. It told the judge through an ex parte application that the N7.6 billion was part of the $153,310,000 which Diezani allegedly siphoned from the Nigeria National Petroleum Corporation (NNPC) in 2014, as Petroleum Resources Minister.
According to the commission, Diezani had the money kept in three banks, and that the Federal Government had since February last year, through an order granted by another judge, Muslim Hassan, recovered part of the money.
The EFCC then prayed the court to mandate Sterling Bank to release to the Federal Government the said sum still in its custody.
Justice Obiozor, who had earlier granted a temporary forfeiture of the funds, however on Monday ordered that the money be permanently forfeited to the Federal Government.

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