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    Home - ‘It’s Not My Money’, Diezani Denies Link With $52.8m Loot Returned By US

    ‘It’s Not My Money’, Diezani Denies Link With $52.8m Loot Returned By US

    By Farouk AbbasJanuary 19, 2025
    Diezani

    FORMER minister of petroleum resources, Diezani Alison-Madueke, has faulted the association of her name with the $52.88 million in respect of which Nigeria and the United States recently executed an Asset Return Agreement (ARA).

    Both Nigeria and the US had claimed the ARA signed in Abuja on January 10 by the Attorney General of the Federation (AGF), Lateef Fagbemi (SAN) and the Ambassador of the United States, Richard M. Mills Jr. was for the repatriation of the approximately $52.88million arising from the forfeiture of the Galactica assets, linked to the former Petroleum Resources Minister, Diezani Alison-Madueke and her associates.

    But, in a statement on Sunday, Diezani claimed to have diligently served the country and denied involvement in inappropriate conduct while in office, adding that she had no relationship with the Galactica assets.

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    The statement titled: “There is no such thing as Diezani loot,” was written on her behalf by her lawyer, Prof. Mike Ozekhome (SAN), who argued among others, that his client was being unduly maligned by those who dislike her.

    Part of the statement said: “We note with concern the recent deliberate attempt to link her (Diezani) with what has been described as a civil forfeiture of a yacht Galactica, the sale of which was said to have yielded $52.8m to the US government; which sum has since been repatriated to Nigeria.

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    “This is a clear example of the mischievous and cruel sport of tarnishing the image of the lady through a bouquet of consistent, persistent and unrelenting cocktail of falsehoods and misinformation.

    “To sell the storyline, the architects ensured they attached Diezani’s name to a recovered yacht which is not in any way linked to her. They now falsely termed it ‘Diezani loot.’ Nothing of the sort ever happened.

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    “She was never involved in the purchase, use and sale of the said yacht. The yacht Galactica, from information readily available in the public domain and in open sources, was purchased by Mr. Kola Aluko who had used the vessel until he agreed to its forfeiture to the United States of America.

    “The only tenuous basis for deliberately linking DAM (Diezani Alison-Madueke) to the said yacht is the false narrative that the Strategic Alliance Agreements (SAAs) which were entered into between Kola Aluko and Jide Omokore’s Atlantic Energy companies and NNPC, were allegedly corruptly awarded to the said companies by DAM.

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    “DAM was not the GMD of the NNPC as so did not and could not have awarded the said contracts.

    “The fallacy of DAM’s involvement in an alleged corrupt contract which gave birth to proceeds with which the Galactica was supposedly purchased has long been debunked and laid to rest by a Nigerian competent court of law in charge No. FHC/ABJ/CR/121/2016 – Federal Republic of Nigeria vs Olajide Omokore & others.

    “In that case, the Federal High Court, coram Hon. Justice Nnamdi Dimgba (now of the Court of Appeal), held that the Strategic Alliance Agreements (SAAs) between NNPC and the Atlantic Companies were validly entered into between the said companies and the NNPC.

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    “Furthermore, the said companies and their chairman were discharged and acquitted of any offence howsoever in relation to allegedly obtaining the contract or monies realized from it through false representations.

    “They were also exonerated and freed of the offence of money laundering in relation to the said contracts with which they were also charged.

    “The judgement in the case established that the said contracts were properly awarded by NNPC and that the said award followed due process.”

    Ozekhome, who noted that his client had been subject to other false allegations, recalled that “some time ago, she was widely, but falsely accused of owning a diamond-studded bikini underwear allegedly valued at $12,000,000!

    “The allegation was so unnatural, wild, and baseless that the then Executive Chairman of the EFCC, Abdulrasheed Bawa, was compelled to publicly deny and denounce the vile allegation as being not only false but preposterous.”

    Ozekhome, who claimed that his client served the nation diligently as the Minister of Petroleum, argued that “she remains the only Petroleum Minister to have left behind, a staggering sum of over $4billion in the NLNG account representing gas sector investment funds.

    “She did this to steady the incoming administration of former president, Muhammadu Buhari, at the end of her tenure in May 2015.”

    Ozekhome further claimed that Diezani’s travails over the last 10 years “have been founded solely on baseless speculations and allegations which wrongly alleged that she obtained unlawful gifts and favours from operators within the petroleum industry.

    “She had never been accosted or charged with stealing or pilfering government money. These matters of obtaining unlawful gifts and favours are now the subject of proceedings against DAM in the United Kingdom.

    “We plead, as her lawyers, with all and sundry, that she be accorded fair hearing and that the process of these UK court proceedings be allowed to take their natural course to avoid prejudice to her in the ongoing subjudice UK proceedings against her.

    “Those purveyors and peddlers who habitually spin these outrightly false, unfounded, defamatory, unintelligent, and indefensible narratives to denigrate and humiliate her should please find better use of their time and leave DAM alone.

    “Let the law take its natural course without interference. We humbly pray,” Ozekhome said.

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