Alleged $10 bn Slush Fund: EFCC to Seize Madueke’s Properties in US

By Segun Adeyemo

The Economic and Financial Crime Commission (EFCC) is on the verge seizing properties owned by former Minister of Petroleum Resources, Mrs Diezani Alison-Madueke in the United States of America.

EFCC is probing Madueke over alleged $10 billion sludge fund.

Former President of the Central Bank of Nigeria, now the Emir of Kano, Alhaji Sanusi Lamido Sanusi had alleged that a sum of $20 billion was missing in the account of the NNPC which was supposed to be remitted to the treasure of the Federal Government, when Madueke was the minister.

The $10 billion slush fund might be part of the missing $20 billion NNPC money under Madueke’s supervision.

The anti-graft agency, according to report, has initiated a process for the seizure of the assets – in line with United States laws.

EFCC Chairman Ibrahim Magu has just returned from the United States where he discussed  with the authorities how to attach the properties, The Nation learnt yesterday.

In the last one year, the EFCC has traced assets and items worth about $10billion to Mrs. Alison-Madueke and her business associates, Mr. Kola Aluko and Chief Jide Omokore.

Some of the assets include an $18million property (over N6.3billion at N350 exchange rate) in Abuja.

A top EFCC source, who spoke in confidence, said: “We have located some assets allegedly owned by Diezani and some of her business associates in the United States. We are already collaborating with the US Government to attach these assets.

“In fact, the EFCC chairman, Mr. Ibrahim Magu, spent about one and a half weeks in the US to work with the relevant agencies to trace Diezani’s properties, some of which are believed to have been secured through business fronts like Kola Aluko.

“We have submitted relevant documents to the US authorities in order to facilitate the seizure of the assets.”

Responding to a question, the source added: “Some of these properties were acquired through some business fronts like Aluko and Omokore.

“We even have a in which houses on a street in Switzerland have been traced to an associate of Diezani.”

The EFCC is working with anti-graft agencies in Britain and the United States.

“Don’t forget that the EFCC initially secured a Mareva Injunction from Justice O.O. Oguntoyinbo to freeze some foreign accounts and seize some assets linked with Diezani’s associates in the United Kingdom,” the source said.