Ex-NNPC GMD Yakubu Loses Bid To Retrieve Forfeited $9.8m

Ex-NNPC GMD, Andrew Yakubu has lost his bid to retrieve forfeited $9.8m.

Gatekeepers News reports that the supreme court has dismissed an appeal filed by Andrew Yakubu, former group managing director (GMD) of the Nigeria National Petroleum Corporation (NNPC), seeking the retrieval of his forfeited monies.

operatives of the Economic and Financial Crimes Commission (EFCC) had on February 3, 2017, raided the Kaduna residence of Yakubu.

The EFCC recovered the sum of $9.8m and £74,000 stashed in a fire-proof safe.

He is alleged to have omitted the monies from the EFCC asset declaration form given to him to fill in 2015.

Yakubu was then arraigned on a six-count charge bordering on money laundering and false declaration of assets.

Yakubu said the funds were gifts.

Still aggrieved, he appealed the judgment at the supreme court.

Mohammed Abubakar, EFCC counsel, had filed an application on November 5, 2020, asking the court to dismiss the appeal for lack of diligent prosecution, stating that the appellant has abandoned his appeal.

Yakubu’s lawyer, Ahmad Raji, told the court that he had filed a notice of discontinuance on July 14, 2021.

Delivering judgment, the apex court presided over by Mary Odili dismissed the former GMD’s appeal marked SC.639/2018 for lack of diligent prosecution.