Politics
Former NNPC GMD, Yakubu, Requests The Return Of Seized $9.7 Million And £74,000 in Court.
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The Economic and Financial Crimes Commission (EFCC) has stated the reasons for withholding the alleged concealed funds recovered from the residence of the former Group Managing Director (GMD)… CONTINUE READING
of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu.
The EFCC, represented by its lawyer, Mr. Faruk Abdullah, informed the Federal High Court in Abuja that they have taken the matter to the Court of Appeal to challenge the dismissal of a money laundering case they had brought against the former NNPC boss.
Since the seized funds are still under active litigation before the appellate court, the EFCC argued that it would be inappropriate to return the funds to Yakubu. Consequently, they urged the high court to reject Yakubu’s application to compel them to return the funds.
In 2017, the anti-graft agency, acting on a tip from a whistleblower, conducted a raid on Yakubu’s guest house in Sabon Tasha, Kaduna State, where they discovered $9.7 million and £74,000 concealed in a fireproof safe.
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