EFCC raids home of ex-NNPC GMD, Andrew Yakubu, recovers $9.2m

Former Group Managing Director of the Nigerian National Petroleum Corporation NNPC Andrew Yakubu

Acting Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, on Thursday told a committee of the House of Representatives that $9.2 million and 750,000 pounds were recovered from a residence in Kaduna state.

Although Magu did not indicate precisely when the raid was carried out, sources have disclosed that the money was recovered in the home of former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu.

The money, which is in excess of N3 billion by official exchange rate, was the largest recovered by the agency in recent weeks.

Magu also disclosed to the House of Representatives Committee on Financial Crimes that N1.25 billion was recovered from a public servant, all in the last two weeks.

Yakubu, who served as NNPC GMD under former President Goodluck Jonathan between 2012 and 2014 is already facing trial for money laundering.

He was charged by the EFCC in June 2016.

Magu was at the House of Representatives to present an appraisal of the agency’s2016 budget performance and also defend its 2017 budget.

He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.

Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.

“Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review,” he said.

The document revealed that the commission secured 135 convictions, out of which 46 were from Lagos zone, 30 from Abuja zone, 22 from Port Harcourt zone, 19 from Kano zone, 15 from Enugu zone and three from Gombe zone during the period.

Magu acknowledged the support of the committee towards fast-tracking completing of EFCC headquarters in Abuja.

He disclosed that the Federal Ministry of Finance had listed the payment of N1.8 billion out of N2.9 billion meant for completion of the headquarters.

He, however, added that the commission had resuscitated its offices in Kaduna, Ibadan, Benin and Maiduguri as part of efforts to boost its operations across the country.

Magu urged the legislature to support the fight against graft, saying “corruption is fighting back”.