Court forfeits Diezani’s $37.5million Banana Island property to FG

A Federal High Court in Lagos has permanently forfeited to the federal government a $37.5million Banana Island property bought in 2013 by a former Minister of Petroleum Resources, Diezani Alison-Madueke.

A vacation judge, Justice Chuka Obiozor, made the order Monday following a motion on notice argued by the Economic and Financial Crimes Commission (EFCC).

The judge also ordered that the sums of $2,740,197.96 and N84, 537,840.70 realised as rents on the property be permanently forfeited to the federal government.

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