…Ex minister loses $2,740,197.96, N84, 537,840.70

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.

Details later…