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Court refuses to unfreeze Diezani Alison-Madueke’s associates’ assets

The Federal High Court in Lagos has refused to unfreeze the assets and funds of businessmen Kola Aluko and Jide Omokore, who were linked to former Minister of Petroleum Resources, Diezani Alison-Madueke.

The Federal Government sued the duo over an alleged $1.8 billion debt.
Their companies – Atlantic Energy Drilling Concepts Nigeria Limited and Atlantic Energy Brass Development Limited – were joined in the debt recovery action.
The Federal Republic of Nigeria, the Nigerian Petroleum Development Company (NPDC) and the Nigerian National Petroleum Corporation (NNPC) are the plaintiffs.
Through their lawyer, Mr. Dipo Okpeseyi (SAN), the  plaintiffs had in May obtained a mareva injunction freezing the defendants’ assets and funds both within and outside the country.
The judge restrained the defendants and their privies from accessing their funds and assets both within and outside the country pending the determination of the suit.
The defendants had, however, approached the court with an application, seeking to discharge the mareva injunction.
The court dismissed the application, holding that the defendants’ assets and funds would remain frozen until the final determination of the substantive suit.
The mareva injunction granted by the court is binding on all the local and foreign banks where the defendants were believed to have funds.

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