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Diezani loses $37.5m sky-scrapper building, $2.7m, N84.5m to FG

A Federal High Court in Lagos on Monday ordered permanent forfeiture of a 37.5m dollars sky-scrapper on the highbrow Banana Island, Lagos, belonging to former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, to the Federal Government. Justice Chuka Obiozor, who gave the ruling, also ordered that the sums of 2.7 million dollars and N84.5 million realised as rents on the property should equally be forfeited to the Federal Government. Obiozor, a professor of law, gave the orders following a motion on notice argued by the Economic and Financial Crimes Commission’s counsel. The anti-graft agency had on July 19 obtained a court order to temporarily seize the property located at Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate which is said to have 24 apartments, 18 flats and six penthouses. The court had directed that the temporary forfeiture order be published in a newspaper and fixed Aug. 7 to enable an...