Banana Island is a gated community which is home to business tycoons, top politicians and celebrities.
Alison-Madueke was appointed the country’s first female oil minister by former president Goodluck Jonathan in 2010.
She is currently on police bail in London after being arrested in connection with a British probe into international corruption and money laundering.
Her name has also featured in a bribery complaint in the United States and a corruption investigation in Italy over a $1.3 billion oil deal between ENI and Shell.
President Muhammadu Buhari, elected in 2015 on an anti-corruption platform, is seeking to stamp-out Nigeria’s widespread graft.
The 74-year-old retired general said after taking office that “mind-boggling” sums had been stolen from the public purse over the years.
Investigators have arrested several high-ranking officials from Jonathan’s administration on corruption charges, but few have been convicted.