Abdulrasheed Bawa, the Economic and Financial Crime Commission’s (EFCC) Chairman, referred to the former Minister of Petroleum, Diezani Alison-Madueke, when he stated that a minister bought $37.5 million property from a bank and deposited $20 million in cash, according to CmaTrends.
CmaTrends learnt from an EFCC source that it was from Diezani that the commission recovered the $37.5 million real estate property.
“The chairman was referring to Diezani. We got the $37.5 million real estate property from her,” a top source said.
While featuring on Sunrise Daily, a Channels Television programme, on Tuesday, the EFCC chairman, Bawa, had stated that about 90 to 100 percent of resources were being laundered through the real estate sector.
He then narrated how the commission investigated a female minister, who he said, bought $37.5 million property from a bank and deposited $20 million in cash.
He did not disclose the name of the minister.
“One of the problems we have in the country is the real estate. 90 to 100 percent of the resources are being laundered through real estate. Of course, they are being regulated but they are not enough in terms of how they give their returns to the Special Control Unit,” Bawa said.
“We investigated a matter in which a bank MD marketed the property to a minister and agreed to purchase it at $37.5 million. The bank then sent a vehicle to her house to evacuate $20 million from her house in the first instance.
“The bank succeeded to put it in their system and paid the developer and then a lawyer set up a special purpose vehicle where the title documents were transferred into and of course, he is posing as the owner of the house,” Bawa had stated.
Diezani has several cases of corruption, money laundering, and recoveries from her made by the anti-graft agency.
On May 28, the EFCC had said it seized jewellery worth N14 billion from the former Minister of Petroleum.
The EFCC Chairman had made this known at the House of Representatives ad hoc committee investigating the assessment and status of recovered loot in Abuja.
He also said that the houses seized from the former Minister are valued at $80 million.
The anti-graft chairman had said that Diezani’s jewellery was still in the custody of the agency, adding that it had not been auctioned but had been finally forfeited to the Federal Government.
He said that court processes, procedures, and administrative exigencies had stalled some of the seized assets to be auctioned by the anti-graft agency.
Bawa however said that the agency would henceforth deal with the seized assets case by case at the courts to quickly dispose the assets.