According to several news outlets, the former Minister of Petroleum Resources, Mrs. Diezani Alison- Madueke allegedly siphoned the sum of $153,310,000m from the Nigerian National Petroleum Corporation (NNPC) and stashed the said amount in three banks in the country. The banks implicated are Access Bank Plc, Sterling Bank Plc and First Bank Plc.

Justice Muslim Hassan of the Federal High Court in Lagos on Friday, ordered the temporary forfeiture of the monies to the Federal Government pending the 14days grace period given to representatives of the aforementioned banks to appear before him to prove the legitimacy of the monies. Failure to do so will mean that the funds would be permanently forfeited to the Federal Government (FG).

The judge made this order following the application made by the Economic and Financial Crimes Commission (EFCC) on Friday requesting an ex parte application seeking the temporary forfeiture of the monies.

Cases like this are clear examples of how ‘knee deep’ in corruption the Nigerian government is. The funds could not have been moved by Mrs. Diezani Alison-Madueke alone, she must have cohorts. We hope that this is not going to be one of the many ‘recovered loot’ stories that will never see the light of day.

On a side note, if the monies are permanently forfeited to the Federal Government, how will these funds be spent? In what way will it positively impact the lives of Nigerians? Do we not deserve to know how the funds will be allocated?

Please share your thoughts in the comment section.

LEAVE A REPLY