Yakubu to forfeit $9.8m recovered To FG

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Federal High Court sitting in Kano presided over by Justice Zainab B. Abubakar today ordered the forfeiture of the sum of $9,772,00 (Nine Million, Seven Hundred and Seventy Two Thousand United States Dollars) and £74,000 (Seventy Four Thousand Pound Sterling) recovered from a former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, to the Federal Government.

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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 the 3rd day of February, 2017, operatives of the Commission had stormed a building belonging to the former NNPC boss and recovered a staggering sum of $9,772,000 (Nine Million, Seven Hundred and Seventy Two Thousand United States Dollars) and £74,000 (Seventy Four Thousand Pound Sterling) stashed in a huge fire proof safe. On February 8, 2017, Yakubu reported to the Commission’s Kano Zonal Office where he admitted being the owner of both the house and the money recovered.

Yakubu is still in custody assisting the investigation.

Wilson Uwujaren
Head Media & Publicity
14th February, 2017

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