$9.8m Cash: Court Fixes Date To Decide Ex-NNPC Boss Andrew Yakubu’s Request To Reclaim Money From EFCC

The Federal High Court sitting in Abuja Monday has fixed November 1 for judgment on an application filed by the former Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC), Andrew Yakubu, seeking an order compelling the Economic and Financial Crimes Commission (EFCC) and two other defendants to release his $9.8 million withheld by the anti-graft agency despite an earlier judgment ordering the release of the money.

Yakubu on April 2023 sued the EFCC, Central Bank of Nigeria and Guaranty Trust Bank for failing to release the money after a court acquitted him of money laundering charges filed against him by the anti-graft agency.

The Central Bank of Nigeria and Guaranty Trust Bank were listed as co-defendants in the case.

THE WHISTLER reported that Justice A.R Mohammed of the Federal High Court sitting in Abuja on March 31, 2022, had quashed the money laundering charges instituted against Yakubu after the EFCC discovered $9, 772, 800 (9.7 million dollars) and £74, 000 from an apartment linked to him in 2017.

The EFCC had urged Justice A.R Mohammed to convict Yakubu.

But his lawyer, Ahmed Raji SAN, asked the court to dismiss the EFCC’s case for lacking in merit.

Yakubu also testified before the judge that the monies found in his house were gifts from friends and associates.

The judge had agreed with the defendant’s submissions; acquitted him and ordered the release of his money.

But Yakubu’s lawyer approached another court presided by Justice Inyang Ekwo over the non-release of the money as directed by the other court.

By way of originating summons, he had urged the court to order the release of his money or in the alternative, direct that the money be deposited with the FHC registrar pending the determination of the suit.

But the EFCC, through its lawyer, Faruk Abdullah, raised an objection to the application, saying appeals have been entered against the subsisting trial court judgement.

At the resumed sitting on Monday, counsel for the CBN, M.M. Abubakar adopted his processes and asked the court to dismiss the suit.

Responding, Justice Ekwo fixed November 1 for judgment in the case.