A Federal High Court in Kano, Tuesday ordered the forfeiture of the N3 billion recovered from the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu.
The Economic and Financial Crimes Commission (EFCC), had last Friday said it recovered $9.8 million and 74,000 pounds from one of the homes of the former NNPC boss in Kaduna State.
The huge cash was concealed in a fireproof safe in a house located in Sabon Tasha, a suburb of Kaduna.
EFCC’s spokesperson, Wilson Uwujaren, had told journalists the funds were recovered following a surprise raid of the property.
According to Uwujaren, the raid was carried out based on an Intelligence report which indicated that suspected proceeds of crime were concealed in the home.
When operatives arrived at the property, Andrew’s younger brother, Bitrus Yakubu, confirmed the house and the money belonged to the former NNPC boss.
On opening the safe, operatives discovered the sum of $9,772,800 and another sum of £74,000 inside.
Mr. Yakubu, however, reported to EFCC’s Kano Zonal office, claiming the funds were gifts from undisclosed persons.
NEXT EDITION learned that the former NNPC boss had admitted owning the money and was arrested and detained by the anti-graft agency.
But the court presided over by Justice Zainab Abubakar, ordered that the funds be taken over by the federal government.
Justice Abubakar took the decision following an ex parte application brought by the EFCC, seeking an interim forfeiture of the recovered funds to the federal government.
It was counsel to the EFCC, Salihu Sani, who moved the application for the seizure of the funds.
“It is hereby ruled 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,” Justice Abubakar ruled.