Andrew Yakubu admits ownership of $9.8m and £74, 000 found in Kaduna home

Andrew Yakubu admits ownership of $9.8m and £74, 000 found in Kaduna home
February 11 00:18 2017

The former Group Managing Director, Nigerian National Petroleum Corporation, Dr Andrew Yakubu, has claimed that huge sums of money found in his home were gifts from unnamed friends.

The Economic and Financial Crimes Commission on Friday said 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 cash was recovered from him, is currently assisting in the investigation.

EFCC spokesman, Wilson Uwujaren, in a statement on Friday 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, belonged 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.

The EFCC said that it was the largest sum of cash the commission had recovered in recent times.

Yakubu who served as NNPC  boss from 2012 to 2014 was arraigned in June 2016 on allegations of money laundering.