Court To Rule On $9.8 Million, £74,000 Seized From Ex-NNPC GMD, Andrew Yakubu

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A federal high court in Abuja has fixed September 20 to deliver judgment in a suit filed by Andrew Yakubu, former group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), against the Economic and Financial Crimes Commission (EFCC).

Inyang Ekwo, presiding judge, adjourned the matter for judgment after counsel for the parties adopted their processes and presented their arguments for and against the suit.

Yakubu had sued the commission, the Central Bank of Nigeria (CBN) and the Guaranty Trust Bank (GTB) over an alleged refusal to release his $9.8 million after a court judgment acquitted him of fraud charges.

On February 3, 2017, operatives of the EFCC raided the property of the former NNPC chief in Kaduna and recovered $9.8 million, and £74,000 stashed in a fire-proof safe.

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

Yakubu was arraigned before Ahmed Mohammed, a judge, on March 16, 2017, on a six-count charge bordering on money laundering and false declaration of assets.

However, in March 2022, the judge, discharged and acquitted Yakubu of the charges.

In the originating summons, marked, FHC/ABJ/CS/231/2023, and filed before Inyang Ekwo, another judge, Yakubu through his counsel, Ahmed Raji, is asking the court to determine whether the EFCC ought to still have in its custody his seized monies after the judgment

He is praying the court for an order directing the defendants to immediately release the monies to him pending the determination of the EFCC’s appeal.

Alternatively, Yakubu wants an order directing the defendants to immediately transfer the said monies into an account under the control of the federal high court’s chief registrar or into an account to be operated by the chief registrar, the EFCC, and him — pending the determination of the appeal.

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