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The Economic and Financial Crimes Commission has discovered a $37.5m (N11.75bn) luxury high-rise building on Banana Island, Ikoyi, Lagos, allegedly belonging to the embattled former Minister of Petroleum Resources, Diezani Alison-Madueke.
Recall that Mr Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), had on Thursday confirmed the recovery of 9.75 million dollars and 750,000 pounds from a residence in Kaduna state.
According to the EFCC, Diezani was said to have bought the building situated in Lagos popular bourgeoise island called Banana Island between 2011 and 2012 at a total cost of $37.5m from the YF Construction Development and Real Estate.
EFCC said, “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.”
Last year, the commission seized an $18m mansion in the Asokoro area of Abuja allegedly belonging to the ex-minister. She has, however, denied all the allegations levelled against her.
Recall that Mr Ibrahim Magu, Acting Chairman of Economic and Financial Crimes Commission (EFCC), had on Thursday confirmed the recovery of 9.75 million dollars and 750,000 pounds from a residence in Kaduna state.
According to the EFCC, Diezani was said to have bought the building situated in Lagos popular bourgeoise island called Banana Island between 2011 and 2012 at a total cost of $37.5m from the YF Construction Development and Real Estate.
EFCC said, “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.”
Last year, the commission seized an $18m mansion in the Asokoro area of Abuja allegedly belonging to the ex-minister. She has, however, denied all the allegations levelled against her.