Petroleum Africa
Find us on: 
Monday, February 20, 2017
A Nigerian court has ordered the forfeiture of roughly N34 billion linking to the former minister of petroleum, Diezani Alison-Madueke. The interim forfeiture order was made on January 6 and the final order was recently given.
Justice Muslim Hassan, who issued the order, said he was satisfied with the Economic and Financial Crimes Commission’s (EFCC) argument that the monies were proceeds of illegal activity.
According to the EFCC the funds were stolen from NNPC and stashed in three banks in Nigeria, in US dollars and Naira.
Justice Muslim Hassan gave interested parties 14 days to appear before him to prove the legitimacy of the funds, failing which the funds would be permanently forfeited to the government.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
