Home / Business / EFCC recovers $9.2m, £750,000 from former NNPC GMD, Andrew Yakubu

EFCC recovers $9.2m, £750,000 from former NNPC GMD, Andrew Yakubu


By Sandra Onyekwere

Economic and Financial Crimes Commission (EFCC), claimed to have recovered a cache of foreign currencies on the raid of the home of a former General Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, in Kaduna.

Ibrahim Magu, the EFCC Acting Chairman made the revelation before a committee of the House of Representatives where he went to give account of the commission’s 2016 Budget and to defend the 2017 Budget.

He said that another N1.25 billion was recovered from another public servant, all in the last two weeks.

Although, the EFCC boss did not reveal the name of the public servant involved, findings have, however, shown that the foreign currencies were recovered from the home of a former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu.

Yakubu served as the GMD of the NNPC between 2012 and 2014.

He is already facing trial for money laundering. He was charged by the EFCC in June 2016.

Magu equally told the House Committee that the commission recovered N102.91 billion, $8.30 million, £29,155, £12,475 and 117,004 Canadian dollars as proceeds of crime between January and December 2016.

Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.

Magu added: “Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review.”

Yakubu was sacked by the then Minister of Petroleum Resources, Diezani Alison-Madueke, who reportedly accused him of insubordination.

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