Wednesday, 18 October 2017

BUSINESS AND ECONOMY

Diezani Alison-Madueke’s $37.5m Banana Island Property Forfeited To Govt

Posted On Wednesday, 09 August 2017 12:31 Written by
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Diezani Alison Madueke’s property now owned by Federal Government Diezani Alison Madueke’s property now owned by Federal Government

This is the $37.5m Banana Island, Lagos property belonging to former petroleum resources minister, Mrs. Diezani Alison-Madueke, which a Federal High Court in Lagos ordered should be temporary forfeited to the Federal Government.

The property has 24 apartments, 18 flats and six penthouses. It is located as Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate.

Apart from the property, the court also ordered the temporary forfeiture of the sums of $2,740,197.96 and N84,537,840.70, said to be part of the rent collected on the property.

The funds were said to have been found in a Zenith Bank account number 1013612486.

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