multi-billion naira transaction
believed to have been carried out by
former Petroleum Resources Minister Diezani
Alison-Madueke.
The Economic and Financial Crimes
Commission (EFCC) is probing a N4billion
hotel deal between Mrs. Alison-Madueke and
a former military administrator, whose
identity is yet to be released “so as to protect
the investigation”.
The hotel may be placed under Interim
Forfeiture as soon as the preliminary
investigation is concluded, The Nation learnt.
But detectives of the anti-graft agency have
secured the relevant papers on the hotel
valued at N4billion
Also, it was gathered at the weekend that
some business associates of Mrs Alison-
Madueke were yet to refund to the EFCC
about $1.85billion traced to them.
They would rather follow through the case
than make a refund, a source said.
According to the anti-graft agency, the hotel
was one of the five being investigated in Port
Harcourt, the Rivers State capital.
The Nation exclusively reported on
September 13 that a special team of
operatives was drafted to Port Harcourt to
locate five houses suspected to be the ex-
minister’s.
It was learnt that the interim report of the
team indicated “a strongly suspected hotel
purchase deal” between the ex-minister and
the former military administrator.
An EFCC source said: “We have been able to
link the N4 billion hotel in Port Harcourt to
the ex-minister. We are probing alleged sales
deal between her and a former military
administrator.
“We have been able to ascertain the value of
the hotel. But we are gradually tracking how
the deal was carried out including
verification of bank details and transactions
by all those involved.
“Some of these deals we are unearthing were
carried out in layers in order to shield them
away from anti-corruption agencies. But we
are cracking them all.”
The source added: “For strategic reasons, we
will not reveal the identities of the ex-MILAD
and others connected with the deal at this
stage of investigation.
“But very soon, the transactions will be made
known to the public. Do not forget, we have
four other properties under surveillance.”
About two weeks ago, another asset of the ex-
minister in Abuja, allegedly worth over
N500million, was confiscated pending her
trial.
The anti-graft agency had earlier seized a
mansion worth N3.58billion from the ex-
minister, bringing the haul in Abuja to about
N4.08billion
With the latest tracking of the hotel in
question in Port Harcourt, the properties
allegedly linked to the ex-minister are worth
about N8.08billion.
As at press time, none of the business
associates of Mrs Diezani, who are under
investigation, has refunded anything from
the $1.8billion traced to them.
A source in the EFCC said: “Apart from
subsidy funds which some of them paid
back, they are yet to refund the $1.85billion
traced to them.
“The battle is in the court; we will do our
best to recover these slush funds. I think
they are prepared for the legal battle.”
The EFCC has, however, secured
a Mareva Injunction from Justice O.O.
Oguntoyinbo to freeze some foreign accounts
and seize some assets linked with Mrs Alison-
Madueke’s associates in the United Kingdom.
“Some of the off-shore financial institutions,
where accounts have been frozen include
BNP Paribas (Switzerland), LGT Bank
(Switzerland), Standard Chartered Bank
(London),Barclays Bank (London), Standard
Energy (Voduz, Switzerland), HSBC (London),
Corner Bank (Lugano, Switzerland) and
Deutsche Bank (Geneva).
Section 34 (1) of the EFCC Act 2004 empowers
the commission to freeze any account
suspected of being used for financial crimes.
“The section stipulates that ‘the chairman of
the commission or any officer authorised by
him may, if satisfied that the money in the
account of a person is made through the
commission of an offence under this Act or
any enactment specified under Section 6(2)
(a)-(f) of this Act, apply to the court ex
parte for power to issue or instruct a bank
examiner or such other appropriate authority
to freeze the account.”
The National Crime Agency (NCA) in the UK
arrested and quizzed Diezani and four others
on October 2, 2015 for alleged bribery and
corruption and money laundering.
Also, the EFCC has quizzed five more suspects
since the interrogation of Mrs Alison-
Madueke by the NCA.
The NCA last year obtained permission from
a Westminster Magistrate’s Court to seize
27,000 pounds from Mrs Alison-Madueke and
two other women.
Although NCA detectives have visited the
country this year in line with the ongoing
probe of the former minister, it was unclear
when she will be formally arraigned in court
in the UK.
While the UK investigation was in progress,
the EFCC uncovered another $115million poll
bribery scam in which the ex-minister was
implicated.
But the ex-minister recently described
allegations against her as “cold-hearted” and
inhuman at a time she is ill.
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