$9.8m, £74,000 recovered from ex-NNPC GMD, Yakubu

The Economic and Financial Crimes Commission (EFCC) on Friday, says it has recovered $9.8 million and £74,000, from the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu.

According to the EFCC, the money was hidden in a fire proof safe, inside a building in Kaduna, allegedly belonging to Mr Yakubu.

Although, Mr Yakubu has reported to the EFCC zonal office in Kano where he has admitted ownership of the recovered money, claiming it was a gift.

The EFCC explained that it conducted a raid on the facility on February 3, 2017, after receiving an intelligence report about suspected proceeds of crime, believed to be hidden in the slums of Sabon Tasha area of Kaduna State.

On arrival at the facility, the caretaker of the house, Bitrus Yakubu, a younger brother to Andrew Yakubu, disclosed that both the house and the safe where the money was found belonged to his brother, the former NNPC boss.