Former GMD NNPC admits ownership of recovered $9.8m

February 10, 2017, 11:58 am

The former Group Managing Director, Nigerian National Petroleum Corporation, Dr Andrew Yakubu, has admitted ownership of the recovered money of $9.8m from his home.

The Economic and Financial Crimes Commission on Friday said that Yakubu had reported to the commission’s zonal office in Kano and made the statement claiming the money was gift from unnamed persons.

 

READ ALSO: Woman Caught Smuggling a Teenager in Her Suitcase

 

The commission said that Yakubu, who also admitted that another £74, 000 cash was recovered from him, is currently assisting in the investigation.

 

The Head of Media and Publicity of the EFCC, Wilson Uwujaren, in a statement on Friday said that a special operation conducted by operatives of the commission on February 3, stormed a building belonging to Yakubu in Kaduna to recover the cash.

He said that the huge cash was hidden in a fire proof safe.

Uwujaren said that the surprise raid of the facility was sequel to an intelligence which the commission received about suspected proceeds of crime believed to be hidden in the slums of Sabon Tasha area of Kaduna.

 

READ ALSO: Cash and Guns Recovered from Justice Ademola Presented in High Court

 

He said that on arrival at the facility, the caretaker of the house, one Bitrus Yakubu, a younger brother to Andrew Yakubu, disclosed that both the house and the safe, where the money was found, belonged to his brother, Andrew Yakubu.

 

READ ALSO: Ijaw Group Gives Dickson 7 Days to Revoke Allocation of Land to Herdsmen

 

Uwujaren said that when the safe was opened it was discovered that it contained the sum of $9,772,800 and another sum of £74,000.

The EFCC source said that it was the largest sum of cash the commission had recovered in recent times.

Yakubu was arraigned in June 2016 on allegations of money laundering.

He served as GMD of NNPC from 2012 to 2014 during the Goodluck Jonathan administration.

(NAN)

Follow us on Twitter @theglobengr

Like this story? Get on the list for updates...it's FREE!.

Related News

LATEST POSTS

Tuface, Annie in Benue To Support Flood Victims

The popular musician, Innocent Idibia, popularly known as TuFace, has arrived at the camp for internally displaced persons in Makurdi, the Benue St....

UEFA Extends Kit Assistance Scheme to 2022

UEFA has extended its successful Kit Assistance Scheme, which supports Europe’s smaller national associations....

We're ready to prove Judiciary wrong, says Uhuru, asks IEBC to set dates

President Uhuru Kenyatta has asked the electoral agency to announce the dates for the repeat presidential elections as soon as possible.

....

IEBC Made Deliberate Mistakes, NASA Lawyers Tell Supreme Court

Presidential election results declared were not based on evidence, Raila Odinga's lawyers have said, citing the mismatch of results in Forms 34....

Uber Picks Expedia's Dara Khosrowshahi As New CEO

Uber Technologies Inc chose Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its chief executive on Sunday, according to tw....

Share