Fidelity bank card banner Camano banner
Diezani forfeits $153m to FG

By News Express on 06/01/2017

Views: 3,111

Diezani Alison-Madueke.
Diezani Alison-Madueke.

Former Nigerian oil minister, Diezani Alison-Madueke, temporarily forfeited $153.3 million to the Nigerian government today.

This was sequel to an order by a Federal High Court in Lagos.

The seized money, according to the Economic and Financial Crimes Commission was stolen from the Nigerian National Petroleum Corporation and stashed in three banks in Nigeria, in US dollars and Naira.

Out of the loot, N23.4 billion was kept in Sterling Bank Plc. The sum of N9.08 billion was kept in First Bank Plc and $5m in Access Bank Plc.

Justice Muslim Hassan, who gave the order, gave Sterling Bank and any other interested party 14 days to appear before him to prove the legitimacy of the monies, failing which the funds would be permanently forfeited to the Federal Government of Nigeria
The judge made the order in favour of the Economic and Financial Crimes Commission which appeared before him today with an ex parte application seeking the temporary forfeiture of the funds.

In a nine-paragraph affidavit  by EFCC investigator,  Moses Awolusi  and filed in support of the ex parte application,  the anti-graft agency discovered  how sometime in December 2014 Diezani invited a former Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, to her office. There they hatched the plan of how $153,310,000 would be moved from NNPC to Okonkwo to be saved for Diezani.

Diezani, according to Awolusi, instructed Okonkwo to ensure that the money was “neither credited into any known account nor captured in any transaction platforms” of Fidelity Bank.

Okonkwo accepted and implemented the deal leading to the movement of $153,310,000 from NNPC to Fidelity Bank.

He averred further that two former Group Executive Directors of Finance and Account of NNPC, B.O.N. Otti and Stanley Lawson, helped Diezani to move the cash from NNPC, Abuja to the headquarters of Fidelity Bank in Lagos.

Awolusi said in a desperate bid to conceal the source of the money, Okonkwo, upon receiving it, instructed the Country Head of Fidelity Bank, Mr. Martin Izuogbe, to take $113,310,000 cash out of the money to the Executive Director, Commercial and Institutional Bank, Sterling Bank Plc, Lanre Adesanya, to keep.

He said the remaining $40m was taken in cash to the Executive Director, Public Sector Accountant, First Bank, Dauda Lawal, to keep.

The investigator said out of the $113,310,000 handed over to Adesanya, a sum of $108,310,000 was invested in an off balance sheet investment using Sterling Asset Management Trustees Limited.

The money was subsequently converted into N23.4 billion and saved in Sterling Bank.

Awolusi said the EFCC had recovered the N23.4bn in draft and had registered it as an exhibit marked, EFCC 01.

The investigator said the EFCC had also recovered another $5m out of the money kept with the Managing Director of Access Bank Plc, Mr. Herbert Wigwe.

He said the $5m was recovered in draft and had been registered as an exhibit marked, EFCC 02.

According to him, First Bank’s Executive Director, Lawal had similarly converted the $40m kept with him to N9,080,000,000.

Awolusi, however, said the EFCC had recovered that also in draft and registered it as Exhibit EFCC 03.

Moving the ex parte application today, the EFCC lawyer, Mr. Rotimi Oyedepo, urged Justice Hassan to order the temporary forfeiture of the funds to the Federal Government and to order Sterling Bank and Lawal, who were joined as defendants in the application, as well as any other interested parties, to appear in court within two weeks to show cause why the funds should not be permanently forfeited to the Federal Government.

Oyedepo, who said the application was brought pursuant to Section 17 of the Advance Fee Fraud and Other Related Offences Act No. 14, 2006 and Section 44(2)(‘) of the 1999 Constitution, said granting the application was in the best interest of justice.

Justice Hassan granted the order and adjourned till January 24, 2016 for the respondents to appear in court to show cause why the funds should not be permanently forfeited to the Federal Government of Nigeria. (NAN)

Source News Express

Posted 06/01/2017 10:34:58 PM

 

 

CLASSIFIED ADS

 

You may also like...
Army Chief flags off Operation Crocodile Smile 111...

Transcorp Group announces new Executive and Non-Executive appointments...

NEPZA to convene inter-agency roundtable in June •Jime...

Strike: Bello bans Kogi varsity ASUU, lecturers risk...

12 Igbo groups back IPOB’s September 14 sit-at-home...

Mixed reactions greet inconclusive Kogi governorship election

APC thugs attack Labour Party campaign train as...

Odumakin, Adegboruwa sue FG over police recruitment

PDP suspends Ifeanyi Ubah, refers Buruji Kashamu to...

Afe Babalola at 90, a tribute by Tola...

Ohuabunwa thrashes Chukwumerije in 2015 senatorial race; Orji,...

MY LIFE IN DANGER —Gani Adams •Implicates popular...

 

Latest News 2 arrested for having sex in public in Maiduguri Husband, wife, son found dead in Lagos apartment Jonathan gets new appointment Cattle rustling, kidnapping now attract death penalty in Katsina CAN Presidency: We didn’t endorse Ayokunle’s re-election — Northern Christians Islamic State terrorists release new guerrilla war manual APC NWC summons emergency meeting over Zamfara Apapa gridlock: Operation Totality Enforcement begins Protesters litter Edo Assembly with faeces Attah to Buhari: Implement true federalism now or Nigeria disintegrates Okowa commissions Admiralty University, lauds collaboration between military, centres of learning Oil spills: Bayelsa communities accuse regulators of complicity with IOCs

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (482,408 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (420,379 views) Shameless Genevieve Nnaji exposes breasts in public (358,840 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (307,241 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (271,121 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (241,671 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (229,756 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (211,551 views) 10 cars more expensive than Jets (203,870 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (200,921 views) Lagos plane crash: Journalist releases victims’ names (181,639 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (181,632 views)

 

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (91) Business & Economy (4,278) Business Verdict (71) Columnists (1,035) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (615) Features (754) Global Business Monitor (366) ICT Monitor (44) International (3,479) Interview (180) Live Commentary (29) Love Matters (161) Maggie's Blog (276) News (46,528) Opinion (1,244) Pidgin (17) Politics (10,826) Religion (1,009) Sports (2,013) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera