Home Uncategorized Court orders forfeiture of Diezani’s $37.5m Banana Island property

Court orders forfeiture of Diezani’s $37.5m Banana Island property

by adminV

The Federal High Court in Lagos on Wednesday ordered the temporary forfeiture of a property at Banana Island, Lagos, reportedly bought for $37.5m in 2013 by a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.


According to court papers presented on Wednesday by the Economic and Financial Crimes Commission, the property designated as Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate, has 24 apartments, 18 flats and six penthouses.

However, the court also ordered the temporary forfeiture of the sums of $2,740,197.96 and N84,537,840.70, said to be part of the rent collected on the property.

The funds were said to have been found in a Zenith Bank account number 1013612486.

The case was thereby adjourned till August 7, 2017 for anyone interested in the property and funds to appear before Justice Chuka Obiozor.

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