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How Aluko, Omokore, Diezani laundered $1.7 billion stolen from NNPC

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Oil businessmen, Kola Aluko & Jide Omokore laundered $1.7b creamed off the oil swap transactions between them, NNPC & Diezani Alison-Madueke.
Kola Aluko details how he and Omokore laundered $1.76 billion

Court papers in Lagos Nigeria have revealed in graphic details how oil businessmen, Kolawole Akanni Aluko and Jide Omokore laundered  the $1.7 billion creamed off the questionable oil swap transactions between them and the NNPC, during the tenure of Diezani Alison-Madueke.

Some of the money laundered through the United States and which have been used to acquire assets are now the subject of a forfeiture bid by the United States Justice Department. But the filings in a Lagos court have provided the most insightful details yet into how the entire money was laundered, while the Nigerian treasury was left dry and emasculated.

According to an affidavit sworn  at the Federal High Court by Isaac Kehinde Oginni, a lawyer in the Federal Ministry of Justice, both Aluko and Omokore  lifted and sold allotted Nigeria’s crude oil. While they were paid for their service,  they deliberately diverted to private use, what was due to the Federal Government and the people of Nigeria,  in the sum of $1,762,338,184.40.

Jide Omokore: he and Aluko were directors in the shell companies used to defraud Nigeria

*They bought vehicles  with a combined value of over N800million and donated them to the Peoples Democratic Party (PDP) through its then  National chairman Prince Secondus.

*They also bought  vehicles valued at over N130million and gave them as gifts to former minister of Petroleum,  Mrs Dieziani Alison-Madueke and some other management staff of Nigerian Petroleum Development Company (NPDC).

*Kolawole Aluko paid $18,548,619.99 and N1,070,000,000  to FBN Mortgages Limited  as part payment for block A consisting of 26 Flats at 46 Gerrard Road Ikoyi Lagos. The block was bought for a total cost of N5,210,520,315.

*Payment of a total sum of $25,839,606.77and N95,000,000 was made to Real Bank for the purpose of part financing the acquisition and renovation of properties by  the Atlantic Energy Drilling Concepts Nigeria Limited (AEDC) and Atlantic Energy Brass Development limited (AEBD). The Properties are: Mason apartments  at 6 Gerrard Road Ikoyi Lagos comprising 60 units of 3 bedrooms apartment valued at $78,000,000, Marion apartments Block 8 located at 4&5,Onikoyi Estate, Banana Island, Ikoyi, Lagos consisting of 43 units of apartments valued at $76,160,000,  apartments  at 33A Cooper Road Ikoyi, Lagos renovated at a total cost of $4,937,750,  Admiralty Towers at 8 Gerrard Road Ikoyi, Lagos., which was also renovated.

The two businessmen also transferred $69,912,981.15  to the following companies ;Mia Hotels Limited, First Motors Limited, V.I.Petrochemicals, Evergreen Reality &Management, WIz Trade limited, DE First Union Integrated Services and Amity Plus limited.

Mr Ogini also averred that Kolawole Aluko literally took residence outside the shores of Nigeria, to embark on a spending spree and assets acquisition in Britain, Canada, United States and Switzerland.

Among the assets acquired were houses at: Grove End Road, London NW;   755 Sarbone Road, Los Angeles;952 North Alpine drive Los Angeles;815 Cima Del Mundo. He also bought land at  807 Coma Del Mundo in Los Angeles.

Aluko also bought houses or apartments at 1049 Fifth Avenue, New York, 1948&1952 Tolls Avenue, Santa Barbara, 157 West 57th St,New York , 4100 Let Revenge, Dubai. In Nigeria , he bought Avenue Towers in Lagos. He also bought a piece of  land in Mont Tremblat, Canada and a property at Colina D’oro Montagnola, Switzerland

After hiding his loot in many assets, he also bought the luxury $80million yacht, the Galactica Star,  58 exotic cars, expensive watches, private jets, Global Express  S5-GMG and a Bombardier Global 6000 9H-OPE.

Cash found in his bank accounts, according to documents before the court are:  LDT Switzerland -$25million, Corner Bank, Lugano, Switzerland -$ 1million, Deutsche Bank, Geneva -$40million, HSBC London $175,000.

He also had 75% shareholding in Atlantic Energy Drilling concepts  Nigeria and Atlantic Energy Brass Development and 10% Shareholding in Seven Energy.

The case came before Justice Oluremi Oguntoyinbo of the Federal High Court sitting in Ikoyi, Lagos state last Friday, incidentally the same day the US Justice Department filed a forfeiture bid at a court in Houston.

The Nigerian  judge adjourned hearing  till 29th of September, 2017 to decide whether to stay proceeding in tune with an application filed by the defendants  or continue with the case.

The Federal Republic of Nigerian and two of its agencies are the plaintiffs and they are ranged against Aluko and Jide Omokore’s  Atlantic Energy Drilling Concepts Nigeria Limited (AEDC) and Atlantic Energy Brass Development Limited (AEBD). 

The Nigerian government wants to recover $1.76 billion from the businessmen and their companies.  Omokore is the chairman of the companies, while Kolawole Aluko is a Director.

Apart from Aluko and Omokore’s application, a limited liability company Virtual Properties and Investment Limited, has also filed another application as an intervener.

The company is urging the court to discharge or vary its order, as it relates to Marion Apartments, on the ground that the property located at Block 8 Plots 4&5 Onikoyi Estate, Banana Island, Ikoyi consists of 56 apartments owned and developed by the intervener.

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