Ex-NNPC GMD denies claims of receiving money from Bola Shagaya, Kola Aluko

Andrew Yakubu, former group managing director (GMD) of the Nigerian National Petroleum Corporation (NNPC), has refuted accusations that part of the recovered money from his residence in Kaduna state was given to him by Bola Shagaya, CEO of Bolmus Group International.

Yakubu also denied allegations that he received part of the recovered cash was from Kola Aluko and Jide Omokore.

He dismissed these claims during cross-examination by G. Ofulue, counsel to the Economic and Financial Crime Commission (EFCC), before Justice Ahmed Mohammed of a Federal High Court, in Abuja, on Wednesday.

In February 2017, EFCC conducted a special operation on a building belonging to Yakubu in Kaduna and found $9,772,800 and another sum of £74,000 cash which was hidden in a fireproof safe.

He was arraigned on a six-count charge bordering on money laundering and false declaration of assets, however, according to NAN, the trial court in March 2017 struck out counts five and six.

The agency also reported that in July 2020, Yakubu told the court of appeal that he recieved a substantial amount of the money as gifts during occasions like birthdays, thanksgiving services, and other celebrations he hosted after he left service.

Two months ago, the supreme court dismissed an appeal filed by the former NNPC boss who was seeking the retrieval of his forfeited monies — making it the third time that this plea was rejected.

In the money laundering case against him, Yakubu said although he knew Shagaya, he was not aware that her company—Voyage Oil and Gas Limited—was awarded an exploration license in 2012 when he served as NNPC GMD.

Ofulue asked: “Will I be correct to say that the company was awarded an exploration license in 2012 when you were GMD of NNPC?”, but Yakubu said: “I am not aware because NNPC does not issue oil licenses but the Department of Petroleum Resources DPR”.

The EFCC counsel also asked: “Will I be correct to say some of the money recovered from your house in Kaduna was given to you by Bola Shagaya?” and the ex-NNPC GMD denied the claim.

Ofulue further asked if some of the money was given to him by Aluko and Omokore, again Yakubu said the allegation was incorrect.

The presiding judge adjourned the case for ruling till November 18, 2021.