The former Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Andrew Yakubu, has admitted ownership of the 9.8 million dollars recovered from his home.
The Economic and Financial Crimes Commission (EFCC) disclosed in a statement on Friday in Abuja 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 their investigation.
Head of Media and Publicity of the EFCC, Wilson Uwujaren said that a special operation conducted by operatives of the commission on Feb. 3, stormed a building belonging to Yakubu in Kaduna to recover the cash which was hidden in a fire proof safe.
Uwujaren said that the surprise raid of the facility was sequel to an intelligence report received by the commission 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 dollars and another sum of 74,000 pounds.
The EFCC source said that it was the largest sum of cash the commission had recovered in recent times.
Yakubu who served as NNPC Group MD (2012–2014) during the regime of Good luck Jonathan was arraigned in June 2016 on allegations of money laundering.