Andrew Yakubu Fails To Recover Forfeited $9m
The former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, on Wednesday failed to recover the $9.8m seized from him by the Economic and Financial Crimes Commission (EFCC).
Mr. Yakubu had filed an application before a Federal High Court in Kano asking the court to overturn an interim order of forfeiture secured by the EFCC in February for the cash.
Yakubu is standing trial for asset concealment and money laundering after the sum of 9.8 million dollars, about 4 billion Naira was found in a house he owns, tucked away in a slum.
Yakubu is denying that he dipped his hands in the cookie jar when he was in charge of NNPC and is claiming that all the money was gift.