…also loses $2,740,197.96 rent on property to FG

A Federal High Court in Lagos state has ordered that a property at Banana Island worth $37.5m which is owned by former Minister of Petroleum Resources, Diezani Alison-Madueke be taken from her.

The court had on Monday, August 7, 2017 asked any party with interest in the property to come forward with reasons why the property should not be permanently taken over by the government, however no one came forward.

Hence, as a result of the no contest, the court asked that the property be permanently forfeited to the Federal Government. The property located at Building 3, Block B, Bella Vista Plot 1, Zone N, Federal Government Layout, Banana Island Foreshore Estate consists of 24 apartments, 18 flats, and six penthouses.

The court further asked that rent in the sums of $2,740,197.96 and N84,537,840.70 accruing from the property also be permenantly forfeited to the federal government