The Federal High Court in Lagos on Tuesday ordered the forfeiture of three landed properties belonging to Kola Aluko, an ally of a former Minister of Petroleum Resources, Diezani Allison-Madueke.

The Economic and Financial Crimes Commission gave the value of the landed properties located in Abuja and Lagos as $73m and N350m.

The EFCC gave the names of the properties as Plot 3389 and Plot 3390, House 2, Margaret Thatcher Close, Asokoro Cadastral Zone, Abuja; as well as Avenue Towers, Plot 1391 Tiamiyu Savage Street, Victoria Island, Lagos
the properties were reasonably suspected to be proceeds of unlawful activities.

Following an ex parte application on Tuesday, Justice Mohammed Liman ordered the properties temporarily forfeited to the Federal Government.

EFCC lawyer, Rotimi Oyedepo, had told the judge that Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 2016 empowered the court to make such a forfeiture order
The properties sought to be attached are reasonably suspected to be proceeds of an unlawful diversion from the Federal Government of Nigeria.

“That the respondent’s known and provable lawful income is far less than the properties sought to be forfeited to the Federal Government of Nigeria,” the lawyer said in the application.

An operative of the EFCC, Sambo Mayana, said the anti-graft agency investigated Aluko after receiving from Mr Debo Adeniran, the Executive Chairman of the Coalition Against Corrupt Leaders, “a damning intelligence report and a petition alleging fraud, lack of transparency and unethical conduct in the transfer of production rights in the oil mining leases against the respondent and his cronies
That there are suspicious financial transactions involving the 1st respondent, KAA and Atlantic Energy Holding Limited based in the British Virgin Island.
That the company, in the course of three years, received large suspicious transfers from two sister companies, namely: Atlantic Energy Drilling Concept Limited and Atlantic Energy Brass Development Limited, based in Nigeria.”

After granting the forfeiture order, the judge directed the EFCC to publish it in a national newspaper.
He adjourned till November 12, 2019, for anyone interested in the properties to appear before him to show cause why they should not be permanently forfeited to the Federal Government.

https://punchng.com/court-orders-forfeiture-of-kola-alukos-73m-n350m-properties/amp/

You still got caught in the end



Hope you'll be granted a fair trial and punished appropriately though

When are we jaining Diezani?

he has $73m property to forfeit and yesterday I was running to diamond bank threatening them just because of N3500 that vanished from my account.

Ok

A night visit to the presidency and pledging loyalty to APC, then we will not hear about this again

We will surely get there.These set of people really did a lot of harms to our national treasury when they were in power. Not only did they loot our money they further looted our youths sense of reasoning .
Carefully watch , you will soon see those calibre of youths whom they have looted their sense of reasoning to coma, they will soon arrive here to defend Aluko .

Nice job, glorifying people with stolen funds(public/private) is an anomaly that shud stop or else we indirectly encourage others venerable to follow such path.

DenreleDave:
At this stage of my life, money is the only thing that can make me depressed.


And the situation of this nation is not helping. I hope God send me a helper......


Good morning fella


Pls how do I go about learning programming during my service year coming up next year...I'm studying banking and finance but I can't be looking for job like many are doing now..


I wana switch to learning things like IT... Guys Pls help.


I can't be jobless, the plight of graduate makes me feel so bad for my own self gan



I am a fast learner even though I don't have a laptop for now but I am a computer literate.. I have a diploma in desktop publishing and I'm averagely perfect (funny right? ) with corel draw. Lack of system and practice made me stagnant in designs


I designed that and I can do many more

Uncle open a Thread. Stop Littering the whole Front page News with this your Story. Thank you

Despite the loots and other bounties you recover on daily basis. You still keep borrowing almost everyday. Who is deceiving who ?

crime everywhere in this 9ja

Oboy! And you think a group of people from large sums like this are being seized from wont hire an army of online trolls to constantly undermine a government's effort?

...

Some Nigerians are richer than those on Forbes list , the way they loot and yahoo yahoo is making devil to fear

bellotaofeek:
Despite the loots and other bounties you recover on daily basis. You still keep borrowing almost everyday. Who is deceiving who ?

Am sure all the recovered loot from politicians has clocked billions of dollars.
EFCC is doing a good job.
We can only celebrate news like this when we begin to see the positive effect on the economy.
Imagine the recently recovered Abacha loot has been spent by this administration yet Nigeria is now ranked as poverty capital in the world, they are still borrowing, increasing taxes, planning to introduce tolls, increasing bank charges etc..

oya start blaming BUHARI

Court orders forfeiture of xyx assets- goes to TSA

Government recovers millions of dollars Abacha loot- distribute to the “poor”

Next Level

SamuelAnyawu:
Money Recovered only for the next politician to still chop am again. There is nothing about this news that should keep any Nigerian out there Happy.

New Money for APC Henchmen to chop. Dazall

Nigeria will not get any better from my own personal observation, you only got to be determined and strong to sail through it's troubled waters

Why didn't PDP retrieved the properties and money? During thier 16 years?

JimohMomoh:

Am sure all the recovered loot from politicians has clocked billions of dollars.
EFCC is doing a good job.
We can only celebrate news like this when we begin to see the positive effect on the economy.
Imagine the recently recovered Abacha loot has been spent by this administration yet Nigeria is now ranked as poverty capital in the world, they are still borrowing, increasing taxes, planning to introduce tolls, increasing bank charges etc..

Apc must give account of how this money was spent on the poor! We must demand accounting of this spending, not to start playing politics

bellotaofeek:
Despite the loots and other bounties you recover on daily basis. You still keep borrowing almost everyday. Who is deceiving who ?

I'm also wondering why America owes trillions of dollars.

JimohMomoh:

Am sure all the recovered loot from politicians has clocked billions of dollars.
EFCC is doing a good job.
We can only celebrate news like this when we begin to see the positive effect on the economy.
Imagine the recently recovered Abacha loot has been spent by this administration yet Nigeria is now ranked as poverty capital in the world, they are still borrowing, increasing taxes, planning to introduce tolls, increasing bank charges etc..

Why does America owe so much with all the wealth it has?

JimohMomoh:

Am sure all the recovered loot from politicians has clocked billions of dollars.
EFCC is doing a good job.
We can only celebrate news like this when we begin to see the positive effect on the economy.
Imagine the recently recovered Abacha loot has been spent by this administration yet Nigeria is now ranked as poverty capital in the world, they are still borrowing, increasing taxes, planning to introduce tolls, increasing bank charges etc..

This comment is thought-provoking.
It will make many people lose hope in the country...I have already lost hope in it anyway.
To make matters worse, this post can get someone depressed.

JimohMomoh:

Am sure all the recovered loot from politicians has clocked billions of dollars.
EFCC is doing a good job.
We can only celebrate news like this when we begin to see the positive effect on the economy.
Imagine the recently recovered Abacha loot has been spent by this administration yet Nigeria is now ranked as poverty capital in the world, they are still borrowing, increasing taxes, planning to introduce tolls, increasing bank charges etc..

They recovered abacha’s loot and shared it to Nigerians then they went to borrow money to fund capital projects.. is this government not a fraudulent conduit pipe for corruption?

Buhari's tenure of 1982-85 is known for the harsh policies the government implemented to protect itself, with many Nigerians, who were seen as a security threat by the government, being detained, jailed, and even executed during his rule. He is well known for bringing recession and anti people policies!

Someone who after successfully overthrowing the democratically elected government of Shigari, Buhari justified the Army's actions in 1983 by defining the civilian government as having been corrupt and hopeless. Buhari was quick to indefinitely suspend Nigeria's 1979 constitution. This man should have been jailed and sent to the gallows! Yet he was repackaged and forced down our throat to be president! Shame on all of us..

GreenArrow1:
Oboy! And you think a group of people from large sums like this are being seized from wont hire an army of online trolls to constantly undermine a government's effort?

Which effort?
The same effort that drops corruption cases because of senate presidential post?

The fact that looted funds go back to the Federation account, to be aporpraited and relooted is a big concern

voltron14:


Why does America owe so much with all the wealth it has?

America has infrastructure and Gdp and even welfare.
Do we have?

Besides America controls those who lend out the money.
So they are safe

SouthSouth1914:


They recovered abacha’s loot and shared it to Nigerians then they went to borrow money to fund capital projects.. is this government not a fraudulent conduit pipe for corruption?

Buhari's tenure of 1982-85 is known for the harsh policies the government implemented to protect itself, with many Nigerians, who were seen as a security threat by the government, being detained, jailed, and even executed during his rule. He is well known for bringing recession and anti people policies!

Are you aware Buhari got into office on the 31st of December 1983 which actually means January 1, 1984?

Leaving office August 21 - 1985.

Nigeria was already on its knees before taking office.

Don't always take what you've been told as gospel.

Do your own research.

Blitzerz:

America has infrastructure and Gdp and even welfare.
Do we have?

Besides America controls those who lend out the money.
So they are safe

You would justify it won't you?

But simple arithmetic would be difficult for you to embark upon.

Divide 20 billion dollars by 200 million Nigerians and tell me if that figure would make everyone ok.

Let me help you out.... that would be 100 dollars to every man, woman and child.

Make of that what you may.

All na politics

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solmusdesigns:
The fact that looted funds go back to the Federation account, to be aporpraited and relooted is a big concern

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