Diezani To Know Fate On Forfeiture Of N7.6bln

A Federal High Court in Lagos will on Monday give its ruling on the forfeiture of 7.6 billion Naira allegedly stashed in a bank account indirectly managed by a former Nigerian Minster

It is another day of reckoning for Nigeria’s former Minister of Petroleum Resources, Diezani Alison-Madueke, as a court in Lagos will decide whether or not she will permanently forfeit 7.6 billion Naira.

A Federal High Court in Lagos will take a final decision on Monday on the alleged looted funds.

A vacation judge, Justice Chuka Obiozor, had on August 9, 2017, ordered the interim forfeiture of 7.674 billion Naira illegally kept in a Sterling Bank account.

It was issued after an ex-parte application was brought before him by anti-graft agency, the Economic and Financial Crimes Commission (EFCC).

The EFCC had alleged that Mrs Alison-Madueke hid the money in 3 banks.

In February of 2016, the Nigerian government, through an order granted by Justice Muslim Hassan, also of the Federal High Court, retrieved part of the funds hidden in the other banks.

Justice Obiozor had, after granting the order for forfeiture, adjourned the case until August 28.

He had asked other interested parties should appear before him to show proof of why the funds should not be permanently forfeited

Diezani was a minister under the administration of Goodluck Jonathan and she is currently out of the country.