The Economic and Financial Crimes Commission, EFCC announced recovery of a total sum of $9,772,800 and a sum of £74,000 cash, in a building belonging to a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, during a special operation conducted on February 3.
According to the Acting Chairman of EFCC, Ibrahim Maku who disclosed this the House of Representatives Committee on Financial Crimes, the huge amount of cash, which is in excess of N3 billion by the official exchange rate, was the largest ever recovered by the agency in recent weeks.
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The money was hidden in a fire proof safe in Mr Yakubu’s home, who was caught off guard by the raid. A spokesperson for the EFCC, Wilson Uwujaren, said in a statement that the surprise raid of the facility was a sequel to an intelligence which the commission received about suspected proceeds of crime believed to be hidden in the slums of Sabon Tasha area of Kaduna.
As the agency reached the facility where the money was found, the house caretaker identified as Bitrus Yakubu, a younger brother to Andrew Yakubu, confirmed that the house and the safe belong to his brother, Andrew Yakubu. On opening the iron safe, EFCC operatives found the money properly stashed in bundles.
Uwujaren also disclosed that Mr Yakubu reported to the Commission’s Zonal office in Kano on February 8, 2017, and made a statement where he admitted ownership of the recovered money but claimed it was a gift from unnamed persons and he is currently assisting the investigation.
Mr. Yakubu, served as GMD between 2012 and 2014, is currently facing trial for money laundering. He was charged by the EFCC in June 2016.
Other recent recoveries made by the anti-graft group include $9.750 million and £750,000 from a residence in Kaduna and that of N1.25 billion recovered from a public servant.
The EFCC Chairman present the Commission’s 2016 budget performance in defence of its 2017 budget. He listed the total sum of looted money recovered by the agency in recent months in the amount of:
- GBP 29,155;
- £12,475; 117,004 Canadian Dollar;
- 806.50 DIRHAM;
- 5,000 FRANCS and 2,000 RUPEE as proceeds of crime between January and December 2016.
“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.”
EFCC Convictions in all regions of Nigeria
Documentation by the EFCC shows that the agency revealed that it 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.
Mr. Magu pleaded for the legislature to support the fight against graft, saying “corruption is fighting back.” He further the commission only recruited 331 cadets on equal quota basis across the country except Lagos, Ekiti, Bayelsa and Rivers with lower numbers.