Nigeria: Govt to Auction U.S.$40m Jewellery Seized From Ex-Oil Minister

Nigeria is to contract international auction houses to sell jewellery worth $40 million recovered from fugitive ex-petroleum minister Mrs Diezani Alison-Madueke together with seizures made from internet fraudsters.

The Economic and Financial Crime Commission (EFCC) which recovered the precious metals from the Abuja home of the former minister secured the forfeiture order from the Federal High Court on September 10.

The jewellery includes 419 bangles, 315 rings, 304 earrings, 267 necklaces,189 wristwatches, 174 earrings, 78 bracelets, 77 brooches and 74 pendants; all at the top end of the market.

Auctioneers will also sell the luxury houses in Nigeria, US and in the UK.

Mrs Madueke, who served as the oil minister from 2011 to 2015, is currently in hiding in London and is wanted in Nigeria to stand trial on charges of fraud and corruption.

"The ex-minister will eventually be repatriated to face the charges," Ibrahim Magu, the acting chairman of EFCC said at a conference on campaign against cybercrime in Abuja on Thursday.

He added that over 242 trailers and tankers had been recovered from internet fraudsters as well as over 100 luxury cars.

"We want to make sure that there's transparency in the process. There are about 242 trailers and tankers in Port Harcourt that we are about auctioning. In fact, in the next two weeks, we will auction them. We will advertise, you will see it very clearly," he added.

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