Court Orders Forfeiture of Alison-Madueke’s N14.4bn Jewellery to FG

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Davidson Iriekpen

A Federal High Court in Lagos has finally ordered the permanent forfeiture to the federal government of jewellery valued at $40 million (about N14.4 billion), recovered from a former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke.

The jewellery, categorised into 33 sets, include “419 expensive bangles and 315 expensive rings”.

Others are 304 expensive earrings, 267 expensive necklaces, 189 expensive wristwatches and 174 expensive necklaces and earrings.

The rest are 78 expensive bracelets, 77 expensive brooches and 74 expensive pendants.

In a ruling yesterday, Justice Nicholas Nicholas Oweibo held that Diezani, through her lawyer, Awa Kalu (SAN), failed to show cause why the items should not be permanently forfeited to the federal government.

The Economic and Financial Crimes Commission (EFCC) had told the judge that the jewellery and iPhone were reasonably suspected to be acquired with fraud proceeds.

The anti-graft agency said the items were beyond Diezani’s legitimate earnings.