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Thursday, May 6, 2021

Court Rules on Kola Aluko’s $73m, N350m assets

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The Federal High Court in Lagos on Thursday fixed April 17 to decide whether or not to order the permanent forfeiture of landed properties in Abuja and Lagos valued at $73m and N350m belonging to Kola Aluko, an ally of a former Minister of Petroleum Resources, Diezani Allison-Madueke.

The Economic and Financial Crimes Commission is pushing for the forfeiture of the properties identified as Plot 3389 and Plot 3390, House 2, Margaret Thatcher Close, Asokoro Cadastral Zone, Abuja; as well as Avenue Towers, Plot 1391 Tiamiyu Savage Street, Victoria Island, Lagos.

Image result for Kola Aluko's pictures

 

The anti-graft agency said the Plot 3389 and Plot 3390 in Abuja were purchased for N350m and $18m, respectively. It said the Lagos property was bought for $55m.

The EFCC said the funds used to procure the properties were reasonably suspected to be proceeds of unlawful activities.

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EFCC lawyer, Rotimi Oyedepo, told Justice Mohammed Liman that, “The properties sought to be attached are reasonably suspected to be proceeds of an unlawful diversion from the Federal Government of Nigeria.

“That the respondent’s known and provable lawful income is far less than the properties sought to be forfeited to the Federal Government of Nigeria,” the lawyer said in the application.

An operative of the EFCC, Sambo Mayana, said the anti-graft agency investigated Kola Aluko after receiving from Mr Debo Adeniran, the Executive Chairman of the Coalition Against Corrupt Leaders, “a damning intelligence report and a petition alleging fraud, lack of transparency and unethical conduct in the transfer of production rights in the oil mining leases against the respondent and his cronies.”

Source: Punch

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