Court orders forfeiture of ex-NNPC boss Yakubu’s $9.8m to FG

Former Group Managing Director of the NNPC, Mr. Andrew Yakubu is to lose the $9,772,00 and £74,000 recovered from him to the Federal Government.

A Federal High Court sitting in Kano presided over by Justice Zainab B. Abubakar today ordered the forfeiture of the monies.

The order was sequel to an ex parte application by the EFCC seeking an interim forfeiture of the recovered money to the Federal Government.

The ex parte application was moved by Salihu Sani, counsel for the applicant.

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In her ruling, Justice Zainab held “That the sum of $9,772,000 (Nine Million, Seven Hundred and Seventy Two Thousand United States Dollars) and £74,000 (Seventy Four Thousand Pound Sterling) which are now in the custody of the applicant (EFCC) are in the interim forfeited to the Federal Government of Nigeria”.

It would be recalled that on February 3rd, operatives of the Commission had stormed a building belonging to the former NNPC boss and recovered a staggering sum stashed in a huge fire proof safe.

On February 8, Yakubu reported to the Commission’s Kano Zonal Office where he admitted being the owner of both the house and the money recovered, but stated that they were gifts to him.

Yakubu is still in EFCC’s custody, where he is said to be assisting investigations.

 

 

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