• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Politics

New discoveries by the EFCC show less than 6% of funds linked to Diezani Madueke have been forfeited

Chacha Wabara by Chacha Wabara
August 9, 2017
in Politics
Share on FacebookShare on TwitterShare on Linkedin

For many following the investigation of the former Minister of Petroleum, Mrs. Diezani Alison Madueke, the recent order on Monday for the final forfeiture of $37.5million Banana Island property to the Federal Government was a case of vindication of justice. However, if the recent report from the Economic and Financial Crimes Commission (EFCC) is anything to go by, then the court has only forfeited less than 5% of the illegal funds traced to the ex-minister.

According to the report, the EFCC has so far traced N47.2 billion and $487.5million to the ex-minister. Together, this translates to about $645 million. Although it is not yet clear how much of this sum was amassed illegally, the $37.5 million vacated property translates to just 5.8% of the amount.

Also notable from the report of the EFCC are the several properties in Madueke’s name which were listed. They include 21 mixed housing units of eight four-bedroom apartments, two penthouse apartments of three-bedrooms each and six three-bedroom (all en-suite) terrace apartments in Yaba, a twin four-bedroom duplex at Lekki Phase one, Lagos and 16 four-bedroom terrace duplexes at No. Heritage Court Estate, Plot 2C, Omerelu Street, Diobu GRA, Phase 1 Extension, Port Harcourt.

RelatedStories

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
Fraudulent Nigerian politicians now hiding their loot in cryptocurrencies – EFCC Chairman 

Fraudulent Nigerian politicians now hiding their loot in cryptocurrencies – EFCC Chairman 

July 10, 2025

While the EFCC’s penchant for coming up with large figures of alleged loot and little evidence to back it up is known, the smile on the faces of people who thought justice was holding sway is likely to grow dimmer with this revelation. Whether or not more forfeitures will take place will depend on how well the EFCC can present its case.

Tags: $37.5 million forfeitureEFCCmaduekeNews Review
Chacha Wabara

Chacha Wabara

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience. Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

Related Posts

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says
Business News

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
Fraudulent Nigerian politicians now hiding their loot in cryptocurrencies – EFCC Chairman 
Business News

Fraudulent Nigerian politicians now hiding their loot in cryptocurrencies – EFCC Chairman 

July 10, 2025
efcc
Business News

EFCC arraigns Bigibet gaming platform founder Adepoju Abiodun for alleged N855million fraud  

July 8, 2025
TSTV Africa re-launches on Independence Day, exactly three years after failed start
Exclusives

TStv MD, Bright Echefu, re-arraigned over N1bn and $1.3m alleged investment fraud, seeks out-of-court settlement 

July 8, 2025
EFCC arraigns 2 CBEX promoters for promising Nigerians 88% investment returns without SEC consent 
Legal & Regulations

EFCC arraigns 2 CBEX promoters for promising Nigerians 88% investment returns without SEC consent 

July 7, 2025
EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says
Crime and Insecurity

Alleged $7.2bn fraud: EFCC still investigating immediate past NNPCL Top Officials 

June 24, 2025
Next Post
NSIA

36 states invest $250 million in NSIA

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Williams Fatayo exits as CEO of Nigerian startup truQ over leadership dispute
  • NDLEA arrests drug kingpin, intercepts 722,875 opioid pills, cocaine in Lagos
  • Climate change threatens global data centres, may cause billions in damages—Report  

Follow us on social media:

Recent News

Williams Fatayo exits as CEO of Nigerian startup truQ over leadership dispute

Williams Fatayo exits as CEO of Nigerian startup truQ over leadership dispute

July 13, 2025
NDLEA arrests drug kingpin, intercepts 722,875 opioid pills, cocaine in Lagos

NDLEA arrests drug kingpin, intercepts 722,875 opioid pills, cocaine in Lagos

July 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics