How Andrew Yakubu Allegedly Hid $9.8m, £74,000 In Kaduna House – EFCC Official

Abuja –  Waziri Adamu Nitte, a Deputy Detective Superintendent with the Economic and Financial Crimes Commission (EFCC), on Tuesday gave a graphic details of how the Kano zonal office of the commission recovered a whopping $9,772,000,800.00 (Nine Million, Seven Hundred and Seventy Two Thousand, Eight Hundred United States’ Dollars) in the Kaduna house of Engineer Andrew Yakubu, a former Group Managing Director of Nigeria National Petroleum Corporation (NNPC).

Also, recovered from a four-drawer safe in Yakubu’s house was £74,000.00 (Seventy Four Thousand Pounds Sterling).

Yakubu is being prosecuted on a six-count charge preferred against him by the Economic and Financial Crimes Commission (EFCC) over offences bordering on financial corruption and money laundering.

At a resumed trial on Tuesday the Prosecution Counsel, Ben Ikani, in the ongoing trial of the erstwhile NNPC boss, led Nitte in evidence.

Nitte, PW2, told Justice Ahmed Mohammed, the trial judge, that the search that led to the recovery of the looted funds was upon an intelligence report the Commission got on February 2, 2017.

The report, according to PW2, revealed there were some foreign currencies packed and kept in a house located at Sabon Tasha Kaduna.

The prosecution witness stated that when he and other team of EFCC detectives located the house, one Bitrus Yakubu was found to be the caretaker of the said house.

“We conducted a search and were able to recover a Gubabi brown coloured four-drawer Safe, and a white Xcess computer,” the PW2 stated.

“After execution of the search warrant, we listed items recovered on the back of the warrant.

“As a result of the sensitivity of what we recovered from the house, we took the safe along the caretaker (Bitrus Yakubu) to our Kano zonal office.

After investigation activities, the witness said the EFCC secured an interim forfeiture order on February 13, 2017, from a Federal High Court Kano.

“However, I am aware that the money is with the Central Bank of Nigeria,” Nitte stated.

Meanwhile, two statements by the caretaker were admitted in evidence as well as an additional statement made by the defendant.

Upon cross-examination by Raji Ahmed SAN, the witness said he did not know where the search warrant was obtained.

He told the court that he was not aware that an appeal had been entered against the interim forfeiture order.

Further trial had been adjourned to January 16, 2018.

The former Group Managing Director of NNPC, among other charges, was said to have, on or before August 18, 2015, at the office of the EFCC knowingly failed to make full disclosure of his assets, to wit; the sum of $9,772,800 only in his assets declaration form he filed on August 18, 2015.

The EFCC said the offence ran contrary to Section 27 (3)(a) of the EFCC Establishment Act 2004, and punishable under Section 27 (3)(c) of the same Act.

The EFCC alleged that the former Group Managing Director of NNPC on or before August 18, 2015, at the office of the EFCC knowingly failed to make full disclosure of his assets, to wit; the sum of 74,000 Pounds sterling in his assets declaration form he filed on August 18, 2015.

The offence according to the EFCC violated Section 27 (3)(a) of the EFCC Establishment Act 2004, and punishable under Section 27 (3)(c) of the same Act.

Similarly, the FG alleged that between 2012 and 2014, in Abuja, the former NNPC boss without going through a financial institution, received cash payment of $9,772,800 contrary to Section 1 of the Money Laundering Prohibition Act 2011 as amended in 2012, and punishable under Section 16(2)(b) of same Act.

In addition, the EFCC alleged that “Between 2012 and 2014 in Abuja, Yakubu was said to have without going through a financial institution, received a cash payment of £74,000 contrary to Section 1 of the Money Laundering Prohibition Act 2011 as amended in 2012, and punishable under Section 16(2)(b) of same Act.

Count five stated, “While being the Group Managing Director of NNPC, sometime between 2012 and 2014 within the jurisdiction of the court, with intent to avoid a lawful transaction under the law, transported at various times, an aggregate sum of $9,772,800 to Kaduna State, an offence contrary to Section 7(4)(b)(ii) of the Advance Fee Fraud and Other Related Offences Act and punishable under Section 7(5) of same Act.

EFCC said Yakubu knew or reasonably ought to have known that the said funds formed part of proceeds of unlawful activity.

It was alleged in count six that while being the Group Managing Director of NNPC, Yakubu sometime between 2012 and 2014 within the jurisdiction of the court, with intent to avoid a lawful transaction under the law, transported the sum of £74,000 to Kaduna State, an offence contrary to Section 7(4)(b)(ii) of the Advance Fee Fraud and Other Related Offences Act and punishable under Section 7(5) of same Act.

The post How Andrew Yakubu Allegedly Hid $9.8m, £74,000 In Kaduna House – EFCC Official appeared first on Independent Nigeria.

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Author: Paschal Njoku