Court orders final forfeiture of $48m properties linked to Diezani

A Federal High Court in Lagos on Wednesday ordered the final forfeiture of $48million properties linked to a former Minister of Petroleum, Mrs. Diezani Alison-Madueke.

Justice Mojisola Olatoregun also ordered the permanent forfeiture of the two properties to the Federal Government of Nigeria.

The properties include: Penthouse 21 building 5, Block C, 11 floor, Bella Vista, Banana Island, Ikoyi, and Penthouse 22, Block B (Admiralty Estate) also in Ikoyi, Lagos.

The verdict in the suit ought to have been delivered on February 14 but the court did not sit as the judge was attending a workshop.

Following an ex-parte application by the Economic and Financial Crimes Commission (EFCC) last year, the judge ordered an interim forfeiture of the said properties on December 5, 2017.

The Judge also ordered the commission to make publication of the forfeiture in national dailies to allow anyone interested in the properties to show cause why the houses should not be forfeited to the federal government.

Having fulfilled the orders of the court, the commission asked the court to permanently forfeit the said properties to the government.

While granting EFCC’s prayer on Wednesday, the judge noted that the anti-graft agency has been able to show evidentially why the Ikoyi penthouses should be forfeited to the federal government.

The EFCC’s ex parte application marked FHC/L/CS/1793c/17, has Alison-Madueke, Donald Amagbo, Schillenburg LLC, and Sequoyah Property Ltd, as respondents in the suit.

Lawyer to the EFCC, Mr Anslem Ozioko, while arguing for interim forfeiture, also asked the court for an order prohibiting any disposal, sale or alienation of the said assets.

The judge granted the orders but refused to grant the order authorising the EFCC to appoint a manager for the two properties.

Ozioko had argued that the properties are suspected to be proceeds of an unlawful activities.

Mr. Abdulrasheed Bawa, an investigator of the commission stated that during investigation into the ownerships of YF Construction Development and Real Estate Ltd, one Fadi Basbous, volunteered extra-judicial statement.

He said Basbous stated that the two properties are owned by Sequoyah Properties Limited, and Schillenburg LLC.
The properties, he claimed, were sold at $3.6million dollars and $1.2million respectively.

The deponent also stated that payment were made by Angela Jide-Jones, and Atlantic Energy Drilling Concept Ltd.
Angela Jide-Jone, is the wife of Jide Omokore, and Atlantic Energy Drilling Concept Ltd, was registered by Jide Omokore, the affidavit revealed.

The investigator explained that Jide Omokore paid for the properties through his wife, and one of his companies.

He stated further that he also directed a developer to sign the agreements with Schillenburg LLC and Sequoyah Properties Ltd.

Schillenburg LLC and Sequoyah Properties Ltd are linked to Alison-Madueke, adding that Schillenburg LLC was registered in Hongkong, while Sequoyah Properties Ltd, was registered in Nigeria on October 11, 2011 allegedly with fictitious shareholders and directors.