Ex-NNPC GMD admits ownership of recovered $9.8m

The former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), Dr Andrew Yakubu, has admitted ownership of the recovered $9.8 million from his home.
The Economic and Financial Crimes Commission (EFCC) said on Friday in Abuja in a statement that Yakubu had reported to the commission’s zonal office in Kano and made the statement claiming the money was gift from unnamed persons.
The commission said that Yakubu, who also admitted that another 74,000 pounds cash was recovered from him, is currently assisting in the investigation.
Wilson Uwujaren, Head of Media and Publicity of the EFCC, said that a special operation conducted by operatives of the commission on February 3, stormed a building belonging to Yakubu in Kaduna to recover the cash.
He said that the huge cash was hidden in a fire proof safe.
Uwujaren said that the surprise raid of the facility was sequel to an intelligence which the commission received about suspected proceeds of crime believed to be hidden in the slums of Sabon Tasha area of Kaduna.
He said that on arrival at the facility, the caretaker of the house, one Bitrus Yakubu, a younger brother to Andrew Yakubu, disclosed that both the house and the safe where the money was found belong to his brother, Andrew Yakubu.
Uwujaren said that when the safe was opened, it was discovered that it contained the sum of $9,772,800 and another sum of 74,000 pounds.
The EFCC source said that it was the largest cash the commission had recovered in recent times.
Yakubu was arraigned in June 2016 on allegations of money laundering.
He served as GMD of NNPC from 2012 to 2014 during the Goodluck Jonathan administration.