Stella Dimoko Korkus.com: Diezani Loses N34 billion To The Federal Govt

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Friday, 17 February 2017

Diezani Loses N34 billion To The Federal Govt

A federal court in Lagos has ordered the final forfeiture of N23.4 billion, N9.08 billion, and $5 million (about N34 billion in total) linked to former Petroleum Minister, Diezani Alison-Madueke.



Justice Muslim Hassan, who had issued an interim forfeiture order on the funds on January 6, on Thursday gave a “final forfeiture order” on the funds.

The judge said he was satisfied with the Economic and Financial Crimes Commission’s argument that the monies were proceeds of illegal activity.

Background


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 banks or any of its customer failed to convince the court on the legitimacy of the funds.

The judge made the order on January 6 in favour of the EFCC which appeared before him with an ex parte application seeking temporary forfeiture of the funds.

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

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

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

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

Mr. Awolusi said in a desperate bid to conceal the source of the money, Mr. Okonkwo, upon receiving it, instructed the Country Head of Fidelity Bank, 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 $40 million was taken in cash to an executive director, [Public Sector Account], First Bank, to keep.

The investigator said out of the $113,310,000 handed over to Mr. Adesanya, $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.

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

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

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

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

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

Moving the ex parte application on January 6, EFCC lawyer, Rotimi Oyedepo, urged Justice Hassan to order the temporary forfeiture of the funds to the Federal Government and to order Sterling Bank and a First Bank director, 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.


Mr. 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.

The respondents failed to show up to make legitimate claims to the funds.
from premium times


*WOW,they failed to show up?ISSORAI.



23 comments:

straight shooter(allergic to bullshit*) said...

Cant read abeg, is too long, all i see os 34bil , in this our country??! And i cant even pay house rent, smh

Cynthia Iyede said...

The money will still be looted by some other people and the cycle continues.

Gbonjubola said...

Hmm,all this money you are sharing, kontinu

FRESH said...

A beautiful anaconda swallowed our wealth. Just imagine if GEJ had won the last presidential elections. Would have been goodbye to this humongous money.

Isaacson said...

Wow see so much money everywhere...there is God o

Contact us for your custom made beautiful bridesmaids dresses,reception dress and other couture services.(562D534E) said...

Why did they not show up??
Is it not your money?

Omo said...

When I hear about women like this I cringed ,
What the hell will she do with all those money 💰?
A woman for that matter ?
It's scary cos I can't wrap my head on that the fact that a woman can steal up to that amount.
All I can do is Sigh 😔!

Daveen Laundry and Dry cleaning Services, Ajah, Lagos. 09072092853. Free pick up and delivery. said...

It takes two to tangle. The banks have a major role to play in curbing corruption.
One would think Allison was working hard towards the development of this country not knowing she was busy milking the resources dry into her bank accounts.

sweetie said...

Shameless thief. She's a disgrace to women.

Miss Ess said...

Very good to know

Yori Yori Princess Loveme Jeje said...

All the monies collected should have improved this country small.

Na wa for una ooo. Diezani you see ya life

Ada Ada said...

On twitter someone said"sugar mummy goals" lwkmd..... Diezani Diezani you gave an extra explanation to what a man can do a woman can do better!!!

LUCILE COCONUT OIL ABUJA 07059605320 Pin- 2BC6235E said...

Hmmmmm

Ralu M said...

This is what they call loot...others are learning where this woman is 😁 and she's Jona right hand woman oh yes! Nnamdi Okonkwo thank your chi that you are weathering this storm and next time if sinners want to entice you say no.
How about her cancer? Was it said to gather sympathy? Nobody has heard anything again, where is she sef? With all these monies mentioned as if it's chicken change, she should be in court answering some important questions.

Anonymous said...

Loses ke
Did they just say she loses...
Na her money wey she go dey loose am?
Ok so wat happns to dese MDs' of dose bnks
Noborri shud cover dier nyansh ooo
Dey shudnt go unpurnished
Herbert Wigwe n co
Wehdone sirs

Mrz Gbagaun (aka pidgin arena) said...

Wooow....

sholetoga said...

34 billion gosh........am I still a Nigerian.......When is the world ending people.........

Yemi7up said...

Not only a disgrace to woman but a disgrace to human race. Awon ole buruku.

The General's Wife said...

Which cancer?

But U know na? Once they are fingered for looting,they develop all sorts of ailments.Cancer Bn their favourite choice. I heard one said he is about to develop Foot cancer. Foot cancer kwa? Tooor! And he is "about to" Not already having it. These people are jokers!

The General's Wife said...

When is she cat-walking to jail?

Anonymous said...

From the ever first President of Nigeria till date, money has moved without a trace. No be today
WhatI want to know is who the recovered money EPP since May 2015? The money recovery is causing too much wahala and nobody is being accountable.
Make una leave my Deziani alone. Stop witch hunting her. She is an educated, successful woman who happened to serve this country in so many different capacities. She inspires me a lot. Not perfect but inspires in her own way. Obasanjo wey thief,go jail, come out, enter presidency, continued thiefing and has assets wey nobody wants name. Is it cos she is a woman. Leave the woman the hell alone for goodness sake and fix the country.
APC is a witch-hunt party not anti corruption. It was corruption money that sponsored his campaign and he settled the chief sponsor with a Ministerial appointment and let him fight Rivers governor like a mad dog.
Leave DeeDee alone!!!!! APC is dead to me. 2019 they are so out!!!!!

Atheist 2 said...

Yeye leaders

Anonymous said...

SDK & motorpark English...how do you loose what was NEVER yours?

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