Diezani Alison-Maduekes denies links to $52.88m assets forfeited to Nigeria

Senior Counsel for Nigeria, Mike Ozekhome, has alleged that the reported repatriation of $52.88 million proceeds from the forfeiture of assets linked to former Minister of Petroleum Resources Diezani Alison-Madueke is an attempt to “tarnish her image” and reputation.

This was disclosed in Alison-Madueke’s right of reply issued through Mike Ozekhome Chambers, her legal counsel.

Ozekhome, in a statement shared on Saturday, claimed that the recent attempt to link her to the civil forfeiture of the yacht Galactica, the sale of which reportedly netted $52.88 million repatriated to Nigeria from the United States, is “a mischievous and cruel sport to tarnish her image through a persistent cocktail of falsehoods and misinformation.”

Nairametrics previously reported that the Federal Government of Nigeria and the United States of America recently formalized an agreement to repatriate assets linked to Alison-Madueke and her associates.

The agreement was signed in Abuja by the Attorney General and Minister of Justice of Nigeria, Lateef Fagbemi, SAN, and the US Ambassador Richard Mills Jr.

Fagbemi stressed that the agreement reflects Nigeria’s unwavering commitment to fighting corruption, stating:

“This event is not only a testament to the nation’s fight against corruption, but also signifies America’s commitment to facilitating restitution and supporting integrity and accountability in governance.

“The signing ceremony reaffirms President Bola Tinubu’s resolve to build a corruption-free Nigeria and ensure that resources are devoted to the socio-economic development of our nation.”

The attorney-general added that the $52.88 million will be allocated to development projects aimed at improving Nigeria’s socio-economic landscape.

He said $50 million will fund the Rural Electrification Project, which aims to increase the reliability and availability of renewable energy.

The remaining $2.88 million will be allocated to the International Institute for Justice (IIJ) to support the *Rule of Law and Counter-Terrorism Project.

Alison-Madueke denies involvement

• Reacting to the development, Ozekhome stated that Diezani Alison-Madueke (DAM), the former Minister of Petroleum Resources, was never involved in the purchase, use or sale of the yacht.
• According to him, the Galactica was purchased by Kola Aluko, who used the vessel until it was forfeited to the United States

“The yacht Galactica was neither owned nor used by our client. DAM has never seen the eyes of the yacht himself. Kola Aluko, an experienced businessman, had been in business long before DAM took office as minister,” he said.

• The lawyer argued that the only reason to link DAM to the yacht was the alleged false narrative that the strategic alliance agreements (SAA) between Kola Aluko, Jide Omokore’s Atlantic Energy and the Nigerian National Petroleum Corporation (NNPC) were corruptly awarded by her.

“DAM was not the GMD of NNPC and could not have awarded the said contracts,” he added.

• He further cited a Nigerian court judgment in case no. FHC/ABJ/CR/121/2016: Federal Republic of Nigeria vs Olajide Omokore & Others, which held that the SAAs between NNPC and Atlantic Energy were validly entered into and followed due process.

“The companies and their chairman were acquitted and acquitted of all charges related to obtaining the contracts or laundering proceeds from them,” Ozekhome said.

• He accused critics of deliberately attaching Alison-Madueke’s name to the recovered yacht to tarnish her reputation.
• Ozekhome noted that Alison-Madueke was charged in a British court on October 2, 2023 after being under investigation for over eight years.
• He urged stakeholders to ensure a fair trial and allow the UK court to conclude the case without prejudice.

More insights

The the US Department of Justice revealed that the forfeited assets were part of an investigation by the Kleptocracy Asset Recovery Initiative, an entity targeting the proceeds of foreign official corruption.

According to court documents, from 2011 to 2015, referenced by the US government, Nigerian businessmen Kolawole Akanni Aluko and Olajide Omokore allegedly paid bribes to Alison-Madueke, who used her influence to award lucrative oil contracts to their companies.

“The proceeds of the scheme, which exceeded $100 million, were laundered through the United States and used to acquire assets, including luxury properties in California and New York, as well as the Galactica Star, a 65-meter superyacht. These assets were forfeited through corruption, bribery, money laundering and other illegal acts,” the Justice Department said.

The department acknowledged Nigeria’s crucial assistance in the investigations, which included providing extensive evidentiary support.

Meanwhile, the former minister is facing several pending cases in Nigeria.