• 2 minutes Rational analysis of CV19 from Harvard Medical School
  • 4 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 7 minutes Renewables Overtake Coal, But Lag Far Behind Oil And Natural Gas
  • 11 hours Joe Biden the "Archie Bunker" of the left selects Kamala Harris for VP . . . . . . Does she help the campaign ?
  • 6 mins Tesla Begins Construction Of World’s Largest Energy Storage Facility
  • 19 hours Trump Hands Putin Major Geopolitical Victory
  • 4 hours America Could Go Fully Electric Right Now
  • 1 hour Will any journalist have the balls to ask Kamala if she supports Wall Street "Carried Interest" Tax Loophole
  • 13 hours Those Nasty White People and Camping Racism
  • 1 hour In 1,267 days, Trump has made 20,055 false or misleading claims
  • 8 hours COVID&life and Vicious Circle: "Working From Home Is Not Panacea For Virus"
  • 2 hours .
  • 37 mins Brent above $45. Holding breath for $50??
  • 3 hours Buying votes is cool now.
  • 14 hours The Truth about Chinese and Indian Engineering
  • 2 days China wields coronavirus to nationalize American-owned carmaker
  • 1 day Oil Tanker Runs Aground in Mauritius - Oil Spill
  • 2 days Open letter from Politico about US-russian relations
  • 1 hour The World is Facing a Solar Panel Waste Problem

Corrupt Oil Minister's Confiscated Jewelry To Sell For $40 Million

Nigeria expects to retain international auction houses to have US$40 million worth of jewelry, which was seized from a former oil minister accused of corruption, sold.

The Economic and Financial Crime Commission (EFCC) of Nigeria has secured an asset forfeiture order from a top federal court in the country to sell the jewelry seized from Nigeria’s oil minister in the period 2011-2015, Diezani Alison-Madueke, The East African reports.  

Earlier this year, a Nigerian court ordered the seizure of $40 million of luxury items, mainly jewelry and a customized gold iPhone belonging to Alison-Madueke.

In addition to the customized iPhone, the items seized included—but was not limited to—419 bangles, 315 rings, and 189 wristwatches, according to Sahara Reporters.  

Auction houses will also be asked to sell luxury homes in Nigeria, the U.S. and the UK, according to The East African.

Alison-Madueke served as petroleum minister under then Nigerian president Goodluck Jonathan, until he was defeated in the elections by current president Muhammadu Buhari in 2015.

Alison-Madueke was also the first female president of OPEC.

She was arrested in 2015 in London as part of a two-year-long investigation by the UK National Crime Agency (NCA) into global corruption, bribery, and money laundering. Alison-Madueke was released on bail after being questioned. She has been on bail ever since, according to AFP, and is believed to be in hiding in London, because Nigeria wants her extradition to face trial on fraud and corruption charges in her home country.

Police and investigators suspect that Alison-Madueke was involved in siphoning off billions of U.S. dollars from Nigerian oil deals and state accounts when she was overseeing Nigeria’s oil industry, for personal benefits, including for buying luxury homes in London and in Nigeria’s capital Abuja.

“The ex-minister will eventually be repatriated to face the charges,” EFCC’s acting chairman Ibrahim Magu said on Thursday.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News