Ex-minister Diezani forfeited jewellery worth N14.4bn, houses valued at $80m, says EFCC

The Economic and Financial Crimes Commission (EFCC), has revealed that the jewellery forfeited by the former Minister of Petroleum Resources, Diezani Alison-Madueke is worth N14.4 billion.

The Commission’s chairman, Abdulrasheed Bawa, who disclosed

this on Friday when he appeared before the House of Representatives ad-hoc committee investigating the assessment and status of recovered loot, said the “jewellery forfeited from the former minister has been valued by relevant government agencies and the estimated value of the jewellery is 14.4 billion naira.”

He added that the estimated value of the houses seized and forfeited from Diezani is $80 million. Bawa further informed that the assets are in the custody of the commission and have not been sold.

The House of Reps committee is assessing the status of all recovered loot moveable and immovable assets from 2002-2020 by agencies of government.

It would be recalled that a Federal High Court in Lagos had in September 2019 granted a final forfeiture of the jewellery to the federal government.

According to Justice Nicholas Oweibo, who ruled over the matter, the former minister had failed to show cause why the jewellery should not be forfeited to the Nigerian government.

In his application for the final forfeiture order, Counsel to the EFCC, Rotimi Oyedepo had told the judge that the expensive jewellery comprising wristwatches, necklaces, bracelets, bangles, earrings, a customized gold phone, and more were reasonably suspected to have been acquired with proceeds of unlawful activities of the former minister.

Meanwhile, the EFCC, had earlier this year, handed a property forfeited by the former minister to the Lagos government for use as an isolation centre for COVID-19 patients.

However, following an order of a Federal High Court in Lagos in 2017,  the six flats of three bedrooms and a boys’ quarter had been forfeited to the federal government.