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A few months ago, one of the foreign media reported that Nigeria’s former Minister of Petroleum Resources Diezani Alison-Madueke might be richer that hundreds of Nigerian millionaires put together.
Considering the billions of dollars traced to her…plus the properties in top choices across the World, the Bayelsa State flamboyant former minister is rich!
Facts about Mrs Madueke
- Full Name: Diezani Alison-Madueke
- Date of Birth: 1960
- Birthday: December 6
- State of origin: Bayelsa
- Previous positions: Ex-minister of Mines and Steel Development, Ex-minister of transportation, Ex- Petroleum Minister, Ex-President OPEC
- Base: United Kingdom
We’ll tell you a few things we know about the Mrs Madueke covering:
- Her background
- Marriage to Rear Admiral Madueke
- Sojourn into politics
- How she became most powerful female minister
- Diezani’s incredible records
- List of Corruption allegations against her
- Her arrest.
- Net Worth
- Battle with cancer
- Reaction of her husband
Diezani Madueke attended Howard University in the United States where she studied Architecture graduating with a bachelor’s degree on December 8, 1992.
Upon her return to Nigeria she served her fatherland and joined Shell Petroleum Development Corporation (SPDC).
In 2002, the ex-minister attended Cambridge Judge Business School for her MBA degree, which catapulted her into a higher position at the Shell.
She was appointed as an Executive Director of the company in 2006, making her the first woman in the history of Shell to be appointed Executive Director in Nigeria.
In September 2011, the Nigerian Defence Academy, Kaduna on State awarded her with an honorary Doctorate degree in Management Sciences.
Marriage to Rear Admiral Madueke
In 1999, she got married to a Naval Officer Allison Madueke, now retired. Her husband was the former Chief of Naval Staff and former governor of Imo and Anambra States
Mrs Diezani Alison-Madueke is blessed with two sons, they are:
- Chimezie Madueke
- Ugonna Madueke.
Mrs Madueke alongside her one of her sons escaped being kidnapped in September 2008 her house in Abuja, the Federal Capital Territory (FCT).
Sojourn into politics
Her sojourn into politics was dramatic as well as interesting. She started associating with the former ruling Peoples Democratic Party (PDP) even as an employee of Shell.
It was rumoured that she deployed personal money to finance elections of some politicians in her state of origin.
It was also rumoured that supported PDP financially before she was appointed into the Federal Executive Council.
Within a few years as a director at Shell, she was appointed on July 26, 2007 as Transportation Minister by the administration of the Late President Umar Musa Yar’Adua.
After 14 months at the ministry, she was transferred to the Ministry of Mines and Steel Development in 2008.
How she became the most powerful female minister
The Acting President Goodluck Jonathan at the time moved her to the Ministry of Petroleum Resources on April 6, 2010, after dissolving the cabinet of his late former boss.
President Umar Musa Yar’Adua at the time was on a sickbed. Her appointment made changed the position she occupied in financial control of Nigeria’s politics.
Even though Dr Ngozi Okonjo-Iweala was Minister of Finance and the Coordinating Minister at the time, it was alleged that her office was boycotted in lots of finances that required her approval.
Alison-Madueke as the Minister of Petroleum Resources promised to transform Nigeria’s oil and gas industry so that all Nigerians benefit. And she wa instrumental into Jonathan’s signing the Nigerian Content Act in 2010.
The Act was aimed at increasing the percentage of petroleum industry contracts awarded to indigenous Nigerian businesses – a reaction to the domination of the sector by foreign operators.
She pushed for the removal of subsidies on fuel prices. Alison-Madueke supported the discontinuation of the subsidy “because it poses a huge financial burden on the government, disproportionately benefits the wealthy, [and] encourages inefficiency, corruption and diversion of scarce public resources away from investment in critical infrastructure.”
It was during her stay in office as the Petroleum Minister several billions of dollars were allegedly mismanaged.
She was technically behind the team alongside the former National Security Adviser Sambo Dasuki that was deploying billlions of Naira as campaign funds for the 2015 presidential elections.
Diezani’s incredible records
The young and smart Diezani Alison-Madueke’s broke several records which include:
- She was the first Nigerian woman to become Minister of Petroleum Resources.
- She was the first Nigerian, first African, and first female to be appointed President of Organisation of Petroleum Exporting Countries (OPE) in November 27, 2014.
- She was the first woman to be appointed to the board of Shell Petroleum Development Company Nigeria.
List of Corruption allegations against her
Immediately her party PDP lost the Presidential election to President Muhammadu Buhari of All Progressive Congress (APC) in 2015, she fled Nigeria.
No one knew why she fled until the APC-led government beamed its corruption searchlight on the financial dealings in the NNPC and the ministry of Petroleum resources.
She was exposed as Nigeria’s anti-graft agency Economic and Financial Crimes Commission (EFCC) began to an investigation into how several billions of dollars were diverted.
She was indicted.
Full list of corruption allegation levelled against Mrs Diezani Alison-Madueke
- $6 billion (N1.2 trillion)
- N1.2 billion
- $20 billion
- N7.6 billion
- $153.3 million
- $1.7 billion
- $115 million
- $40 million jewellery, gold and iPhone
- $2.2m property for Prime Minister Roosevelt Skerrit of the Commonwealth of Dominica
NOTE: The aforementioned recovered funds may likely be part of the $20 billion NNPC funds that were missing during her tenure.
Charged her role in $20 billion missing from NNPC.
CBN Governor at the time, Sanusi Lamido Sanusi now an Emir raised an alarm that t least $20 billion was not remitted into the Federation Account. He was fired for going public.
Alison Madueke says Sanusi made the allegations against her to retaliate after she didn’t help him to get appointed as the president of the African Development Bank (AfDB).
$6 billion (N1.2 trillion):
The accusation of personally diverting $6 billion.
In October 2009, the Senate of Nigeria indicted Diezani Alison-Madueke and recommended prosecution for the transfer of 1.2 billion naira into the private account of a toll company without due process and in breach of concession agreement.
On 28 August 2017, a Nigerian federal court seized 7.6 billion naira ($21 million) from bank accounts linked to her.
On January 6, 2017, a Federal High Court sitting in Lagos ruled that a certain $153.3 million, allegedly stolen by her be forfeited to the Federal Government.
N7.6 billion: A Federal High Court in Lagos had also ordered the interim forfeiture of N7, 646,700,000, believed to have been part of the loot stashed away in her local bank.
She was said to have received $1.7 billion from two of her associates between 2011 and 2015 in exchange for billion dollar contracts.
Traced to her are properties at Flat 5 Park View, 83-86 Prince Albert Road, London NW8 7RU (“Flat 5 Park View”) for £3,750,000.
Another property at 58 Harley House, Marylebone Road, London NW1 5HL (“58 Harley House”) for £2,800,000.
9 Chester Close North, London NW1 4JE (“39 Chester Close North”) for £1,730,000 and £11,530,000 worth of London real estate for the benefit of Mrs. Alison-Madueke.
The U.S. Department of Justice (DOJ) has been seeking to recover $144 million in assets from the loot.
The former minister lavished millions of her illicit wealth on landed properties, furniture and artworks, according to U.S. authorities
In March last year, the EFCC amended a five-count charge and joined Mrs.
A prosecution witness, Timothy Olaobaju, told the court that sometime in April 2014, about $115 million was lodged into the account of Mrs. Alison-Madueke.
Though she was cleared by a Senate committee, allegations that she diverted around $20 million of revenues from the NNPC while she was minister, continued to linger.
Alinson-Madueke $40 million jewellery, gold and iPhone
The former minister also had close to 200 jewellery suspected to have have been acquired through illicit funds.
On September 10, 2019 during forfeiture order counsel to EFCC Rotimi Oyedepo argued that the expensive jewellery was reasonably suspected to have been acquired with proceeds of unlawful activities.
And the Federal High in Ikoyi granted the final forfeiture of the $40-Million worth of jewellery seized from her.
Justice Nicholas Oweibo ordered the final forfeiture, saying the former Minister failed to show cause why the jewellery should not be forfeited to the Federal Government of Nigeria.
An investigator with the Commission, Rufai Zaki, in an affidavit put before the court insisted that the jewellery were beyond the former Minister’s “known and provable lawful income”.
The investigator stated that Alinson Madueke started acquiring the jewellery in 2012, two years after she was appointed a minister.
Reuters reported on October 2, 2015, that Mrs Alison-Madueke had been arrested by the UK’s National Crime Agency (NCA) in London.
It was reported that she was arrested along with four other people on suspicion of bribery and corruption offences.
Her arrest was denied by the police of having any knowledge of the incident.
Her family and the Nigerian Government confirmed that she had been arrested in London, although the NCA declined to comment on the case.
Her arrest news seemed to boost the morale of Nigeria’s anti-graft agency at home as they move into her home in Asokoro, Abuja was raided and sealed by anti-corruption agents of the Nigerian Economic and Financial Crimes Commission, a few hours after her alleged arrest in London.
Battle with cancer
Alison-Madueke revealed that while in office, she had been undergoing treatments for breast cancer in the United Kingdom.
At the time of this report, her status was not made public, but her husband confirmed that she had breast cancer.
Net Worth: Is Mrs. Diezani Alison-Madueke richer than Aliko Dangote?
As of November 2019, Africa’s richest man Alhaji Aliko Dangote is worth an estimated net worth of US$8.9 billion, according to Forbes.
That’s a chunk of what Mrs Madueke had in her account before EFCC exposed her financial dealings.
However, Aliko Dangote is known to have investments spread across the World, making his wealth legitimate.
Diezani Madueke, on the other hand, is known to have accumulated wealth in the most dubious and questionable manner, using public funds for personal use.
If we’re to use all the illicit wealth acquired by Diezani Alison-Madueke as a parameter, she is richer than Aliko Dangote.
And if all the funds traced to her by local and international anti-graft agencies had been earned from legitimate sources, she would have made Forbes’ Billionaire List as one of the World richest.
So, Mrs. Diezani Alison-Madueke, Nigeria’s former Minister of Petroleum is worth undisclosed billions of dollars and her wealth can’t be compared with Aliko Dangote whose wealth can be traced legitimately.
The reaction of her husband
In a recent report, Diezani’s husband, Rear Admiral Alison Madueke (retd.), was quoted as saying in his published book titled, “Riding the Storms with God on My Side” that she warned his wife when she was appointed as a minister in 2007, saying he told her not to focus on money but maintain the good name of the family.
Madueke is a former Chief of Naval Staff.
Efforts by EFCC get her deported had failed several times, and in a recent revelation, it was reported that she acquired a diplomatic passport of Commonwealth of Dominica by buying $2.2m property for Prime Minister Roosevelt Skerrit of the country.