Ex-NNPC GMD, Yakubu knows fate on seized $9.8m November 1

Justice Inyang Ekwo of the Federal High Court, Abuja, on Monday fixed November 1 for ruling on the $9.8 million seized from the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu.

Yakubu had approached the court to compel the Economic and Financial Crimes Commission (EFCC) to release the cash discovered in his Kaduna residence in 2017 after the court had discharged and acquitted him on the money laundering charges brought against him by the commission.

The EFCC, Central Bank of Nigeria (CBN), and a commercial bank were listed as respondents in the suit.

Justice Ahmed Mohammed on March 31, 2022, dismissed the money laundering charges filed against the ex-NNPP chief following the discovery of $9,772,800 and £74,000 in his Kaduna apartment by the commission six years ago.

READ ALSO: Former NNPC GMD, Yakubu, sues EFCC over seized $9.8m, £74,000

The judge also acquitted Yakubu on the charges and ordered the EFCC to release his money to him.

The commission, however, refused to obey the court order.

In an originating summons filed by his lawyer, the plaintiff asked the court to order the EFCC to release the money or in the alternative, direct that the money be deposited with the registrar pending the determination of the suit.

But the EFCC lawyer, Faruk Abdullah, objected to the application, saying the commission had appealed Yakubu’s acquittal at the Court of Appeal, Abuja.

After listening to both parties, Justice Ekwo fixed November 1 for ruling on the matter.

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