Court Freezes $1.8billion Assets of Oil Tycoons Kola Aluko , Jide Omokore


A federal high court in Lagos has granted a Mareva injunction permitting the Nigerian government to freeze assets owned by two Nigerian businessmen Kola Aluko and Jide Omokore, and their company Atlantic Energy.

The two billionaire businessmen and oil tycoons have been linked to former Minister For Petroleum Resources, Diezani Alison-Madueke in a wide range of rogue business dealings that illegally transferred Nigerian oil assets to them and their companies.

This is coming weeks after the former minister had sworn to implicate all former close allies and associates who had deserted her since her travails with the Economic and Financial Crimes Commission (EFCC) begun.

Read Also:  Oil Tycoon Kola Aluko Sold $24.5m Mansion In L.A Under EFCC Probe

The legal documents, exclusively obtained by SaharaReporters, demanded a global freeze of $1.8 billion in assets stolen by Atlantic Energy executives Kola Aluko and Jide Omokore.

Mr. Aluko had reportedly sold his lavish Bel-Air mansion in Los Angeles, USA at a $2 million loss a few weeks ago.

Mr. Omikore has also been under intense scrutiny by the Economic and Financial Crimes Commission (EFCC), which seized a 2 million pound wristwatch from him on April 27th, 2016 and raided his Nigerian homes on October 2nd, 2015.

Atlantic Energy was granted enormous contracts from the Nigerian Petroleum Development Company (NPDC) under the direction of the embattled former Minister for Petroleum Resources Alison-Madueke.

Read Also:  Uche Secondus Admits Receiving Cars From Jide Omokore

According to reports, when Mrs. Madueke granted Atlantic Energy contracts through the Strategic Alliance Agreements (SAA) the company did not even legally exist.

Court Freezes Billionaire’s Assets

According to legal documents, available below, Mr. Aluko and Mr. Omikore stole more than $1.7 billion from the Nigerian government.

Assets specifically mentioned include three mansions in Los Angeles, two high-end apartments in New York City, properties in Santa Barbara, California; numerous properties in Lagos including 43 apartments in Banana Island, 58 vehicles, the Galactica Star yacht, and three airplanes.


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