Billionaire Aiteo chief regains UK properties confiscated in connection with former oil minister’s trial by EFCC

Billionaire chief executive officer (CEO) of Aiteo group, Benedict Peters, has recovered two of his UK properties after the Federal High Court sitting in Abuja ordered their release, declaring the properties as unduly included among properties of the former petroleum minister, Diezani Allison-Madueke, who has been in the eye of the Economic and Financial Crimes Commission (EFCC) for corruption.

The properties, Flat 5, Parkview, 83-86 Prince Albert Road, London and Flat 58 Harley House, Marylebone Road, London were seized in a list of 19 properties allegedly belonging to the minister, under an interim forfeiture order obtained by the commission in 2016.

The CEO and two of his companies, Rosewood Investment Limited and Colinwood Limited filed an application presented by Wole Olanipekun, a senior advocate of Nigeria (SAN) before

Justice Binta Nyako, urging the court to vacate the orders on grounds that the allegations were erroneous.

According to Olanipekun, “The mandatory condition precedent to the grant of the interim forfeiture order was not complied with and due process of law was not followed in obtaining the interim order of forfeiture”.

Justice Nyako thus directed that, “The order of interim forfeiture that was made in this case cannot override or supersede an order of final judgment of a court of coordinate jurisdiction,” and ordered that the properties could not continue to be restrained by the order EFCC had obtained, consequently directing the immediate release of the London properties.