Ex-NNPC GMD Andrew Yakubu Loses Bid To Reclaim $9.8m

Former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu, has lost his bid to retrieve the sum of $9.8m and £74,000, forfeited to the Federal Government.

The former Director had through his counsel, Ahmad Raji, filed an application seeking to quash an interim order of forfeiture secured by the Economic and Financial Crimes Commission.

In her ruling on Wednesday, Justice Zainab Abubakar held that the court had the jurisdiction to hear the case, contrary to the argument of Raji.

She said the application lacks basic legal framework, adding that the EFCC is competent according to Section 29 of its Act to seek for the order of interim forfeiture.

The EFCC had on February 13, 2017 secured the Federal High Court order on the forfeiture of the over $9.8 million discovered from Mr. Yakubu’s house in Kaduna. He is currently being prosecuted by the anti-graft agency for the money.