In Summary
  • The first female president of the global oil cartel OPEC has always denied the allegations, which involve billions of dollars syphoned from oil deals and state accounts.
  • Banana Island is a gated community which is home to business tycoons, top politicians and celebrities.

LAGOS, Tuesday

A Nigerian court has confiscated the $37 million (Ksh3.7bn) luxury apartment complex of a former oil minister accused of fraud and money laundering as well as rental proceeds from the properties.

Lagos high court judge Chuka Obiozor on Monday also ordered ex-minister Diezani Alison-Madueke to hand over more than $2.7 million (Ksh270m) that she made leasing the apartments.

Since leaving office in 2015, Ms Alison-Madueke has been implicated in bribery, fraud, misuse of public funds, and money laundering cases in Nigeria, Britain, Italy and the United States.

The first female president of the global oil cartel OPEC — who was one of Africa’s most prominent female politicians — has always denied the allegations, which involve billions of dollars syphoned from oil deals and state accounts.

FORFEITURE

The ruling followed an application by the Economic and Financial Crimes Commission that followed an uncontested temporary forfeiture order issued last month.

The anti-graft agency had accused Ms Alison-Madueke of acquiring the apartment complex on Lagos’ ultra-chic Banana Island with stolen government cash.

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