Justice
Muslim Hassan of the Lagos Division of the Federal High Court Thursday ordered
a “final forfeiture” of N34 billion linked to former petroleum minister,
Diezani Alison-Madueke.
In a
judgment delivered inside his tiny courtroom, Mr. Hassan said the prosecution,
the Economic and Financial Crimes Commission (EFCC) proved satisfactorily that
the funds were proceeds of illegal activity.
“I commend
the EFCC for their unrelenting efforts,” said Mr. Hassan, a former EFCC
prosecutor. “It is a very good development for Nigeria.”
The
anti-graft agency had, on January 6, brought an application seeking an order
for the interim forfeiture of $153.3 million allegedly belonging to Mrs.
Alison-Madueke to the Nigerian government.
Out of the
funds, N23.4 billion was kept in Sterling Bank Plc, N9.08 billion in First Bank
Plc, and $5 million in Access Bank Plc.
In granting
the order, the judge had given the banks – and any other interested party – 14
days to appear before him and prove legitimacy of the monies or permanently forfeit
them to the Nigerian government.
On January
24, an executive director at First Bank Plc filed an application claiming
ownership of the N9.08 billion, forcing the judge to adjourn for judgment.
But on
Thursday, his lawyer, Charles Adeogun-Phillips, brought another application
seeking abridgment of time and leave to file further affidavits.
He later
withdrew the former.
Mr.
Adeogun-Phillips said his client raised the N9.08 billion in question through
“family and friends.”
“I am not
seeking to move these two motions at this hearing, and I will tell you why,”
Mr. Adeogun-Phillips began.
“I come in
peace and in that regard, my friends (EFCC) and I are currently exploring
reconciliatory thoughts towards seeking an amicable settlement in this matter.
“It is what
I will call a commonsense approach in resolving this matter.
“The real
value of N9 billion in May last year is not what it is today and will not be
the same a year down the line, so that value diminishes.
“For as long
as this matter is tied in litigation, that value continues to diminish. That’s
what I called it a commonsense approach.
“If we don’t
get an agreement, we’ll continue like nothing happened. But I’m hopeful it will
be a fruitful exercise.”
Rotimi
Oyedepo, counsel to the EFCC, said he was not aware of any negotiations with
the First Bank chief.
He described
Mr. Adeogun-Philips’ applications as “strange” and an attempt to stop the judge
from delivering his judgment.
“It is alien
in our legal system for your Lordship to allow his judgment to be arrested in a
matter already slated for judgement,” said Mr. Oyedepo.
“He talked
about settlement. I’m before your Lordship today, I’ve not heard of any
settlement. My employer has not given me any information about any discussion.
“I urge my
Lord to strike out the application.”
After
adjourning for three hours, the judge struck out the application and proceeded
to read his judgment.
Mr. Hassan
said nobody showed cause as to why the N23.4 billion and $5 million could not
be forfeited to the federal government and gave an order for their “final
forfeiture.”
He also said
bank executive’s claim that the EFCC misled the court to grant the January 6
interim forfeiture did not hold water.
The judge
further stated that the respondent could not prove his claim that he was
coerced into agreeing to refund N5 billion, and later N80 million within one
week.
“The second
respondent voluntarily returned N9.08 billion being proceeds of illegal
activity without coercion,” said Mr. Hassan.
I hereby
order the final forfeiture of N23.4 billion and $5 million being unclaimed
properties to the federal government of Nigeria.
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