According to reports, the Economic and Financial Crimes Commission (EFCC) is on the verge of reportedly seizing a mansion which is owned by Kola Aluko in Dubai, two days after the US Department of Justice disclosed details of how some part of the $1.5billion for the oil production contract funds were laundered.
The Commission will also make an application to take possession of two houses which belong to a former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke for her alleged involvement and implication in the case due to her receipt of the laundered cash
According to the Nation, five luxury properties have also been identified as belonging to a former official of the defunct Oceanic Bank. Meanwhile, all the properties have gone through the identification and documentation phase for forfeiture with the assistance of the UAE authorities.
Nigeria and UAE signed a pact on January 19, 2016, which comprises includes Judicial Agreements on Extradition, Transfer of Sentenced Persons, Mutual Legal Assistance on Criminal Matters, and Mutual Legal Assistance on Criminal and Commercial Matters (the recovery and repatriation of stolen wealth).
The properties according to a source were also located in the most expensive area in Duba, namely, highbrow Jumeirah. However, the address of the properties of Alujo and the ex-bank official believed to be a woman were not disclosed for security reasons
“The EFCC still has a valid Mareva Injunction to freeze some foreign accounts and seize some assets linked with Diezani and her business associates in the United Kingdom and some jurisdictions.
“Some of the offshore financial institutions, where accounts are frozen, include BNP Paribas (Switzerland), LGT Bank (Switzerland), Standard Chartered Bank (London),Barclays Bank (London), Standard Energy (Voduz, Switzerland), HSBC (London), Corner Bank (Lugano, Switzerland) and Deutsche Bank (Geneva).
“Besides the luxury properties traced to Diezani and Aluko in the US, we have identified more in Dubai.
“So far, we have commenced the process of ensuring the forfeiture of these assets by the suspects. The EFCC is also verifying the assets linked with Aluko’s business partner, Chief Jide Omokore in Dubai too.
“All the steps taken so far are in line with the relevant laws in the UAE and the six agreements signed with Nigeria when President Buhari went on official trip,” he said.
According to the source, the EFCC believes that “some of the assets were bought with part of the $1.5billion oil production contracts.
”These oil barons and their ilk acquired these properties when Dubai was a safe haven for looted funds. But the UAE has strengthened its laws in a manner that there is no more hidden place for the corrupt.
“We are already employing the Mutual Legal Assistance Agreement to get this done.”
WATCH: EFCC Recovers House Worth $18m from Diezani Alison-Madueke (VIDEO)