Business - News - May 28, 2021

EFCC values Diezani’s jewelleries, assets forfeited to Nigerian govt. at over N14.4bn, $80m

Pieces of exotic and customized jewelries,consisting designer bangles,trinkets, necklesses, wristwatches, earings and personalized wristbands seized from a former Minister of Petroleum Resources, Diezani Alison-Madueke, by the Economic and Financial Crimes Commission (EFCC) are valued at about N14.460 billion.
The properties also seized from the one-time stylish minister, including buildings at prime locations across the country and abroad and denominated in foreign currency totalled over $80million. 
The Chairman of the anti-graft agency, Abdulrasheed Bawa, told the House of Representatives ad hoc committee investigating the assessment and status of recovered loot on Friday in Abuja that the jewellies and assets, which have been forfeited to the Federal Government are awaiting auctioning to the public.
“The Diezani’s jewelleries and properties seized by the government are still in the custody of the EFCC. They have not yet been auctioned. But I can confirmed that they have finally been formally forfeited to the Federal Government,” Bawa said.
He said the long court due processes, procedures and administrative exigencies stalled some of the seized assets from being auctioned by the anti-graft agency.
Bawa however said that the EFCC would henceforth deal with the seized assets on a case by case basis at the courts in order to quickly dispose them.
“Already the Federal Government has set up a committee under the chairmanship of the Solicitor-General for the Federation to handle the matter. And I think they are working tirelessly to realize the set target.
To ensure that assets not only recovered by the EFCC, but the entirety of the recovery agencies assets are disposed off he said the EFCC has representatives in the committee.
“We believe at the end of the day Nigerians are going to appreciate what that committee will come out with, in term of the mandate given to them,” Bawa said.

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