The Economic and Financial Crimes Commission, EFCC, has discovered a $37.5m (N11.75bn) luxury high-rise building on Banana Island, Ikoyi, Lagos, allegedly owned by former Minister of Petroleum Resources, Diezani Alison-Madueke.
This comes on the heels of the discovery of $9.3m and £74,000 in a Kaduna bungalow, allegedly belonging to a former Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu.
It is understood that the discoveries were made as part of investigations into a string of fraudulent activities in the NNPC, which reportedly cost the nation over $20bn at a time the oil price stood at about $100 per barrel on the average
Sources within the EFCC told the Punch that the building, comprising 18 flats and six penthouses, allegedly belonging to Diezani was purchased between 2011 and 2012. It is situated in the same estate where Africa’s richest man, Alhaji Aliko Dangote, lives.
Properties on Banana Island are among the most expensive in Africa. A plot of land sells between $4m (N1.25bn) and $6m (N1.8bn), according to Forbes Magazine.
A source at the EFCC told the newspaper, “The aggressive drive by the EFCC to recover all hidden assets of former Minister of Petroleum Resources, Diezani Alison-Madueke, who is under investigation for corruption and money laundering, produced another breakthrough this week with the discovery of a property acquired through shell companies by the former minister at upscale Banana Island in Lagos.
“The property is a 15-storey edifice comprising 18 flats and six penthouses.
“The property was acquired by the former minister between 2011 and 2012 at a total cost of $37.5m from the developers, YF Construction Development and Real Estate.
The property was allegedly acquired in the name of a shell company, Rusimpex Limited under the control of certain Mr. Afamefuna Nwokedi of Stillwaters law firm, in Lagos.”
Recall that last year, the commission seized an $18m mansion in the Asokoro area of Abuja allegedly belonging to the ex-minister.
Mrs. Alison-Madueke continues to deny all allegations against her, saying they are politically motivated.
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