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Diezani Alison-Madueke Clears the Air: ” Repatriated $52.8m Loot Not Mine”

The Journal Nigeria January 20, 2025

Mathew Amaechi 

Former Minister of Petroleum Resources Diezani Alison-Madueke has vehemently denied ownership of the $52.8 million recently repatriated to Nigeria from the United States. 

Alison-Madueke, who has been residing in the United Kingdom, claims that the money in question actually belongs to Nigerian oil magnate Kola Aluko.

According to her counsel, Prof. Mike Ozekhome (SAN), the former minister had no involvement in the purchase, use, or sale of the yacht Galactica, from which the $52.8 million was generated. Ozekhome emphasized that the yacht was purchased by Aluko, who later agreed to its forfeiture to the US government 

Stating her position, the former minister said the $52.5m came from a vessel seized by the American government from Kola Aluko and which was later sold and proceeds returned to the federal government of Nigeria.

Her denial of ownership of the money was contained in a lengthy press statement issued by the Chambers of Mike Ozekhome SAN and titled ” There is no such thing as Diezani Loot “.

Part of the statement read “My chambers makes this intervention in the public domain as Solicitors to Diezani Alison-Madueke (DAM) ,the former Minister of Petroleum Resources, HMPR.

“As her Solicitors, we are fully versed in and conversant with her present ordeal and the entire facts surrounding her matters both here in Nigeria and abroad. So, we write from the vantage position of one that is aware of the cocktail of lies that have been spurned around her cases in the last ten years.”

Alison-Madueke’s denial comes amidst allegations that she was involved in corrupt practices during her tenure as Minister of Petroleum Resources. Her lawyers have urged the public to allow the legal process to unfold without interference, stressing that Alison-Madueke has not been tried or found guilty of any offense.

The statement, titled “There is no such thing as Diezani Loot,” aims to set the record straight and correct the “skewed narrative” surrounding Alison-Madueke’s involvement in the repatriated funds.

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