Former Minister of Petroleum, Alison-Madueke A federal High Court, Lagos has granted the application for final forfeiture of $40million worth of jewelry allegedly belonging to former Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke. Justice Nicholas Oweibo in his ruling yesterday held that the respondent failed to prove that the items in question were not acquired with proceeds of unlawful activities. “The respondent filed affidavit to set aside instead of showing cause. In showing cause, the respondent ought to place before the court sufficient evidence that the property is not a proceed of unlawful activities. “I am of the view that the respondent failed to show cause why the property should not be forfeited, therefore I am granting the application,” the judge stated. The presiding judge had, on July 5, 2019, granted the interim forfeiture following an ex parte application filed by the Economic and Financial Crimes Commission (EFCC). Justice Oweibo had ...

Legislative head of the Central Bank of Nigeria (CBN), Godwin Emefiele at the beginning of today, visited President Muhammadu Buhari at the Presidential Villa, Abuja, days after his reappointment as the helmsman of the summit bank. President Buhari a week ago sent a letter to the Senate mentioning for the expansion of Emefiele's residency.