Nigeria gets ex parte asset recovery order for $153,000,000 in proceeds of corruption from PEP parked in banks

By Christine Duhaime | January 7th, 2017

The government of Nigeria will be able to recover $153 million in proceeds of corruption from Diezani Allison-Madueke, its former Minister of Petroleum, who was and remains a politically exposed person under anti-money laundering law.

The funds were alleged to have been stolen from the Nigerian National Oil Company when it was under her control as the petroleum minister. Nigeria’s national anti-corruption agency, the Economic and Financial Crime Commission, located the $153 million parked in three local banks, Sterling Bank, First Bank and Access Bank but it is unknown how much was removed from the country to London and Dominica.

The EFCC applied to Nigeria’s court on an ex parte application to seize the funds from the three banks.

Allison-Madueke fled Nigeria in 2015 where she was subsequently arrested on allegations of money laundering. She has a passport for Dominica which suggests there are funds parked there.

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