Connect with us

Government

UK’s National Crime Agency Freezes Alison-Madueke’s London Properties

Published

on

Diezani Allison-Madueke - Investors King
  • UK’s National Crime Agency Freezes Alison-Madueke’s London Properties

The UK’s National Crime Agency (NCA) has frozen London properties valued at £10 million allegedly bought for the former Minister of Petroleum Resources Mrs. Diezani Alison-Madueke, as investigations into the case against her unravel by the day.

The two properties located at Regents Park in London, along with one in Buckinghamshire, have now been frozen based on the request of Nigerian authorities.

According to online news medium, Premium Times, a London court gave the freeze order in September 2016 but details of the rulings have only recently become public.

But the agency was too late in preventing a further two properties worth £8 million from being sold.

In July, the U.S. Department of Justice (DoJ) had revealed four properties it alleged were bought for the former petroleum minister by individuals and firms seeking her influence in obtaining lucrative oil assets and crude oil lifting contracts.

Some of the oil assets were assigned to people believed to be her cronies through Strategic Alliance Agreements (SAAs).

The DoJ’s affidavit stated that businessmen, Jide Omokore and Kola Aluko were involved in the purchase of two of the properties allegedly bought for Alison-Madueke.

The UK order obtained by Africa Confidential, a newsletter specialising in politics and business in Africa, has revealed that three of the properties have been frozen under the Proceeds of Crime Act.

Apart from Alison-Madueke, Omokore and Aluko, the order also named three other individuals as defendants in the case, all of whom were believed to have received contracts or oil assets from the NNPC during the embattled minister’s tenure.

The order forbids the defendants from disposing of or dealing in the properties.

Although the NCA has frozen three properties valued at £10 million, the agency was too late to prevent a further two properties worth £8 million from being sold.

One of these, a massive nine-bedroom house in London’s exclusive Hampstead Garden Suburb, bought by a British Virgin Islands-registered company in January 2011 for £5,850,000, was sold in May 2015.

Similarly, the property at 39 Chester Close, one of the properties listed in the DoJ case, which was bought by Aluko’s BVI-based Mortlake Investments for £1.73 million, was sold in July 2015, months before the NCA initially arrested the former minister.

UK estate agent, Daniel Ford & Co, assisted in the purchases of three of the properties, and UK solicitors firms, Addie & Co and Gordon’s Partnership, were conveyancers of the deals.

According to Corruption Watch, a UK NGO, investigators should look carefully at these organisations’ due diligence practices.

The order signals a step up in the UK’s investigation of the former minister, who was first arrested by the NCA in October 2015 when the agency confiscated her passport and £27,000 in cash found in her apartment.

However, the extent of the evidence against Alison-Madueke and the other defendants remains unclear.

The September 2016 forfeiture proceeding of the properties was held in private, meaning that the evidence that the NCA presented to support the seizure was not accessible.

Although some of the businessmen all had lucrative contracts with the NNPC, and are all accused of lavish spending for Alison-Madueke, this alone might not be enough to secure criminal prosecutions against any of them, analysts have said.

“In the U.S. and UK, simply buying luxury items for a government official like Ms. Alison-Madueke isn’t against the law,” said Aaron Sayne, a financial investigator and Senior Governance Officer at the National Resource Governance Institute.

“Investigators have to link the money involved to a crime that happened in Nigeria. And if the crime is bribery, they must also show that the items purchased rewarded her for helping someone win a government contract. That’s not easy to prove, especially well enough to stand up in court,” he pointed out.

The DoJ’s case included transcripts of conversations in which the minister appeared to admit her role in awarding the SAA contracts to Atlantic Energy – but it is still unclear whether the UK has additional evidence relating to the contracts that others received during Alison-Madueke’s tenure.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Government

Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

Published

on

Netanyahu

Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

Continue Reading

Government

EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

Published

on

Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

Continue Reading

Government

Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

Published

on

NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending