Court declines EFCC’s request to inspect $9.7m seized from ex-NNPC GMD

A federal high court in Abuja has declined a request by the Economic and Financial Crimes Commission (EFCC) to inspect $9,772,800 and £74,000 seized from Andrew Yakubu, former group managing director of the Nigerian National Petroleum Corporation (NNPC).

The seized funds were deposited at the Kano branch of the Central Bank of Nigeria (CBN).

In February 2017, the EFCC had recovered the aforementioned sums in a fireproof safe at Yakubu’s residence in Kaduna.

The EFCC alleged that the defendant received huge sums of money without going through a financial institution.

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

Yakubu, who was arraigned on a six-count charge bordering on money laundering and false declaration of assets, has said the funds were gifts.

On January 14, 2021, Mohammed Abubakar, counsel to the EFCC, prayed for an order of the court to inspect the sums of money.

But Yakubu through his counsel, Ahmed Raji, had urged the court to dismiss the application by the prosecution.

Ruling on the matter on Wednesday, Ahmed Mohammed, the presiding judge, said it was unnecessary to move the court to Kano to inspect the cash.

“It is clear to my mind that a visit to the bank is at the discretion of the court. I find no basis in the request by the prosecution to visit the bank. I find it unnecessary, consequently, this application is hereby refused,” he said.

The matter has been adjourned to March 10 for continuation.

Yakubu is currently standing trial on only two out of the initial six counts preferred against him.

The trial court had struck out two counts while the court of appeal struck out another two.

He was then ordered to come back to the trial court to defend himself on the remaining two counts.