Barely two weeks after the signing of six agreements with the
United Arab Emirates (UAE), the Federal Government has initiated
moves to seize assets of a former Minister of Petroleum Resources,
Mrs. Diezani Alison-Madueke and four others in Dubai.
The others are: a former Managing Director of the defunct
Oceanic Bank, Mrs. Cecilia Ibru, a former Minister of the Federal
Capital Territory, Sen. Bala Mohammed and his son, Shamsudeen.
The Economic and Financial Crimes Commission (EFCC) has traced
eight choice assets to Mrs. Ibru and two to the ex-Petroleum
Minister.
Although the ex-FCT Minister and his son are on the Federal
Government’s list, their Dubai houses are yet to be listed. The
investigation is on.
The profiling of the suspected assets of more than 25
Politically Exposed Persons (PEPs) is ongoing.
The EFCC has done “considerable intelligence work on the assets
of Diezani and some of her business associates”, a source told our
reporter yesterday.
The source said: “Following due diligence by the EFCC, the
Federal Government has already compiled a list of first batch of
suspects with houses in Dubai, whose assets ought to be
attached.
“They are a former Minister of Petroleum Resources, Mrs. Diezani
Alison-Madueke; a former Managing Director of the defunct Oceanic
Bank, Mrs. Cecilia Ibru and a former Minister of Federal Capital
Territory, Sen. Bala Mohammed and his son, Shamsudeen.
“The government will soon formally apply to the UAE for the
seizure of the assets traced to these Nigerians.
“Despite the fact that many assets were said to be allegedly
owned by Mrs. Ibru, only eight choice mansions has been identified
by the EFCC.
“The ex-Petroleum Minister has two apartments, including the one
marked as J5 Emirates Hills (30 million Dirham) and another tagged
E146 Emirates Hills, valued at 44million Dirham.”
Responding to a question, the source added: “The EFCC is
profiling more than 25 PEPs based on the huge database from the
UAE.
Some of these assets are in Emirates Hills, Marina, Jumeira, Bur
Dubai in Dubai and Abu Dhabi in the UAE. “We are yet to focus on
looted funds stashed in the Emirates,” the source said.
On the inclusion of the ex-FCT minister and his son, the source
added: “This is based on intelligence report. We will keep you
posted on the outcome of their suspected assets in Dubai. Ours is
to make their names available for investigation by the UAE.
“Even those who bought houses through proxies can be
detected.”
Following a state visit to the UAE by President Muhammadu Buhari
on January 19, 2016 , the Federal Government entered into six
agreements with the Emirates.
The agreements, which were signed by President Buhari last week,
are:
Avoidance of Double Taxation Agreement;
Agreement on Trade Promotion and Protection;
Judicial Agreements on Extradition;
Transfer of Sentenced Persons;
Mutual Legal Assistance on Criminal Matters; and
Mutual Legal Assistance on Criminal and Commercial Matters(recovery
and repatriation of stolen wealth).
Sections 7 of 28 and 34 of the EFCC (Establishment Act) 2004 and
Section 13(1) of the Federal High Court Act, 2004 mandate the
agency to seize suspicious assets.
Section 7 says: “The commission has power to (a) cause any
investigations to be conducted as to whether any person, corporate
body or organization has committed any offence under this Act or
other law relating to economic and financial crimes.
“(b) Cause investigations to be conducted into the properties of
any person if it appears to the commission that the person’s
lifestyle and extent of the properties are not justified by his
source of income.”
Sections 28 and 34 of the EFCC (Establishment Act) 2004 and
Section 13(1) of the Federal High Court Act, 2004 empower the
anti-graft agency to invoke Interim Assets Forfeiture Clause.
“Section 28 of the EFCC Act reads: ‘Where a person is arrested
for an offence under this Act, the Commission shall immediately
trace and attach all the assets and properties of the person
acquired as a result of such economic or financial crime and shall
thereafter cause to be obtained an interim attachment order from
the Court.’
Section 13 of the Federal High Court Act reads in part: “The
Court may grant an injunction or appoint a receiver by an
interlocutory order in all cases in which it appears to the Court
to be just or convenient so to do.
The nation
Barely two weeks after the signing of six agreements with the
United Arab Emirates (UAE), the Federal Government has initiated
moves to seize assets of a former Minister of Petroleum Resources,
Mrs. Diezani Alison-Madueke and four others in Dubai.
The others are: a former Managing Director of the defunct
Oceanic Bank, Mrs. Cecilia Ibru, a former Minister of the Federal
Capital Territory, Sen. Bala Mohammed and his son, Shamsudeen.
The Economic and Financial Crimes Commission (EFCC) has traced
eight choice assets to Mrs. Ibru and two to the ex-Petroleum
Minister.
Although the ex-FCT Minister and his son are on the Federal
Government’s list, their Dubai houses are yet to be listed. The
investigation is on.
The profiling of the suspected assets of more than 25
Politically Exposed Persons (PEPs) is ongoing.
The EFCC has done “considerable intelligence work on the assets
of Diezani and some of her business associates”, a source told our
reporter yesterday.
The source said: “Following due diligence by the EFCC, the
Federal Government has already compiled a list of first batch of
suspects with houses in Dubai, whose assets ought to be
attached.
“They are a former Minister of Petroleum Resources, Mrs. Diezani
Alison-Madueke; a former Managing Director of the defunct Oceanic
Bank, Mrs. Cecilia Ibru and a former Minister of Federal Capital
Territory, Sen. Bala Mohammed and his son, Shamsudeen.
“The government will soon formally apply to the UAE for the
seizure of the assets traced to these Nigerians.
“Despite the fact that many assets were said to be allegedly
owned by Mrs. Ibru, only eight choice mansions has been identified
by the EFCC.
“The ex-Petroleum Minister has two apartments, including the one
marked as J5 Emirates Hills (30 million Dirham) and another tagged
E146 Emirates Hills, valued at 44million Dirham.”
Responding to a question, the source added: “The EFCC is
profiling more than 25 PEPs based on the huge database from the
UAE.
Some of these assets are in Emirates Hills, Marina, Jumeira, Bur
Dubai in Dubai and Abu Dhabi in the UAE. “We are yet to focus on
looted funds stashed in the Emirates,” the source said.
On the inclusion of the ex-FCT minister and his son, the source
added: “This is based on intelligence report. We will keep you
posted on the outcome of their suspected assets in Dubai. Ours is
to make their names available for investigation by the UAE.
“Even those who bought houses through proxies can be
detected.”
Following a state visit to the UAE by President Muhammadu Buhari
on January 19, 2016 , the Federal Government entered into six
agreements with the Emirates.
The agreements, which were signed by President Buhari last week,
are:
Avoidance of Double Taxation Agreement;
Agreement on Trade Promotion and Protection;
Judicial Agreements on Extradition;
Transfer of Sentenced Persons;
Mutual Legal Assistance on Criminal Matters; and
Mutual Legal Assistance on Criminal and Commercial Matters(recovery
and repatriation of stolen wealth).
Sections 7 of 28 and 34 of the EFCC (Establishment Act) 2004 and
Section 13(1) of the Federal High Court Act, 2004 mandate the
agency to seize suspicious assets.
Section 7 says: “The commission has power to (a) cause any
investigations to be conducted as to whether any person, corporate
body or organization has committed any offence under this Act or
other law relating to economic and financial crimes.
“(b) Cause investigations to be conducted into the properties of
any person if it appears to the commission that the person’s
lifestyle and extent of the properties are not justified by his
source of income.”
Sections 28 and 34 of the EFCC (Establishment Act) 2004 and
Section 13(1) of the Federal High Court Act, 2004 empower the
anti-graft agency to invoke Interim Assets Forfeiture Clause.
“Section 28 of the EFCC Act reads: ‘Where a person is arrested
for an offence under this Act, the Commission shall immediately
trace and attach all the assets and properties of the person
acquired as a result of such economic or financial crime and shall
thereafter cause to be obtained an interim attachment order from
the Court.’
Section 13 of the Federal High Court Act reads in part: “The
Court may grant an injunction or appoint a receiver by an
interlocutory order in all cases in which it appears to the Court
to be just or convenient so to do.
The nation
Read more https://nairalaw.com/diezani-ex-minister-son-others-top-dubai-assets-list/