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Court orders temporary forfeiture of properties linked to former Petroleum Minister Alison-Madueke, as EFCC accuses her of using fictitious persons to acquire properties worth billions

Mrs. Diezani Alison-Madueke

Justice Mojisola Olatoregun of the Federal High Court in Lagos, on Tuesday ordered a temporary forfeiture of two properties valued at $4.7million reportedly belonging to the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, to the federal government.

According to the judge, the properties; Penthouse 21 building 5, Block C, 11th floor (Bella Vista Estate) Banana Island, Ikoyi, and Penthouse 22, Block B (Admiralty Estate) also in Ikoyi, Lagos, be temporary forfeited to the Federal Government pending the conclusion of investigation by the Economic and Financial Crimes Commission (EFCC).

The EFCC in an affidavit stated that during investigation into the ownership of the two properties, YF Construction Development and Real Estate Limited, a certain Fadi Basbous, volunteered an extra-judicial statement where he stated that the two properties were sold at $3.570million and $1.194million and owned by Sequoyah Properties Limited and Schillenburg LLC (companies which are also allegedly linked to Mrs. Madueke).

Payments for the two properties were allegedly made by Angela Jide-Jones, the wife of Jide Omokore, who is a close ally of the former Petroleum Ministers, and a company belonging to Mr. Omokore, Atlantic Energy Drilling Concept Limited.

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After the payments, Omokore reportedly instructed the sellers to sign an agreement with Sequoyah Properties Limited and Schillenburg LLC.

The EFCC investigator, Abdulrasheed Bawa, also noted that Schillenburg LLC was registered in Hongkong and transferred on March 30, 2012, to Mr. Amamgbo as sole owner, while the second company Sequoyah Properties Ltd was registered in Nigeria with fictitious names; Chukwudinma Nwako and Olisa Eloka, on October 11, 2011.

Mr. Amamgbo told the EFCC that he incorporated Schillenburg LLC and submitted it to Mrs. Madueke for the transaction.

Justice Olatoregun after listening to the application consequently ordered a temporary forfeiture of the properties to the federal government, but however refused to grant the EFCC authorization to appoint another manager for the properties.

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