Former Nigerian oil minister’s assets seized

ABUJA, July 21, 2017 – A Nigerian court ordered former Oil Minister Diezani Alison-Madueke’s USD 37.5-million apartment block temporarily seized and part of the rent collected frozen on Wednesday in relation to corruption allegations.

The Economic and Financial Crimes Commission requested the seizure based on suspicion the property had been purchased with money obtained illegally during her tenure as petroleum minister from 2010-2015.

Last week, the US Department of Justice applied for the seizure of the former minister’s US assets including a USD 82-million yacht, USD 87 million of real estate and USD 144 million in bank accounts. The US investigation is also looking into possible accomplices whose companies, Atlantic Energy Drilling Concepts and Atlantic Energy Brass Development, allegedly benefitted from licence and contract awards with the proceeds laundered in the US.

The UK has conducted similar investigations into Alison-Madueke, and earlier this month an affidavit was filed in a Nigerian court alleging the two company owners had profited USD 1.76 billion from crude swap deals while Alison-Madueke was in office.

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