Wednesday, 10 May 2017

Ex-NNPC Chief Andrew Yakubu loses bid to retrieve forfeited $9.8 million

A Federal High Court in Kano has dismissed the application filed by a former Managing Director of the state oil firm, NNPC, Andrew Yakubu seeking to quash an interim order of forfeiture secured by the Economic and Financial Crimes Commission.
Ruling on the application filed by the counsel to Mr. Yakubu, Ahmad Raji, Justice Zainab Abubakar said the court has jurisdiction to hear the case, contrary to the argument of Mr. Raji.
The judge also ruled that the application seeking to set aside the case lacks basic legal framework and 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 retrieved from Mr. Yakubu’s house in Kaduna.
Mr. Yakubu is already being prosecuted by the EFCC for the money found in his house on February 2.
On Tuesday, a witness told a Federal High Court in Abuja, where the ex-oil chief is being prosecuted, how the money was found.

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