Seized $9.8m : Ex-NNPC GMD Knows Fate On Nov 1

By Garry Ochigbo

The former Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu will on November 1 know his fate in his legal battle to compel the Economic and Financial Crimes Commission, EFCC, to release to him $9.8 million cash seized in his Kaduna residence since 2017.

At the final hearing of his legal battle against EFCC on Monday, Justice Inyang Eden Ekwo fixed November 1 to deliver judgment in the suit on the money seizure.

Yakubu sued the EFCC, Central Bank of Nigeria and a commercial Bank for their refusal to release the money after a high court in Abuja discharged and acquitted him from money laundering charges brought against him by the anti-graft agency.

A Federal High Court in Abuja had on March 31, 2022 quashed the money laundering charges instituted against Yakubu after the EFCC discovered $9, 772, 800 (9.7 million dollars) and £74, 000 in an apartment linked to him in 2017.

The EFCC had asked Justice Ahmed Ramat Mohammed to convict Yakubu for an offence of money laundering and also order forfeíture of the money to the Federal Government.

But Ahmed Raji, lawyer to the ex-NNPC GMD raised an objection to the trial on the grounds that the monies found in Yakubu’s house were gifts from friends and associates.

Justice Mohammed had agreed with the defendant’s submissions, acquitted him and ordered the release of his money to him which EFCC refused to comply with.

Yakubu’s lawyer however returned to court claiming that the monies had not been released as directed by the court, but the EFCC, through its lawyer, Faruk Abdullah, raised objection to the application saying appeals have been entered before the Court of Appeal in Abuja against the judgment of the Federal High Court.

At Monday’s proceedings, Justice Ekwo after taking arguments from the parties involved in the suit fixed November 1 to give verdict on whether to compel EFCC to release the money or not.

Edited By Grace Namiji