In News by Oluwaseun Samuel on the 10th, July, 2020

$9.7m Discovered In My Home Have been Presents

$9.7m Found In My House Were Gifts

Andrew Yakubu

Andrew Yakubu

 

A former Nigerian Nationwide Petroleum Company boss, Mr. Andrew Yakubu going through cash laundering prices on Wednesday instructed the Federal Excessive Court docket in Abuja that the $9.7million and £74, 000.00 the Financial and Monetary Crimes Fee (EFCC) present in his home in 2017, was gifted to him.

 

Yakubu, in his defence, stated he obtained the monies in tranches of no more than $10, 000 and no more than £5, 000.

 

The ex-NNPC boss who testified as his witness instructed the court docket that folks gave him financial items on events reminiscent of birthdays, thanksgiving companies, and different celebrations he hosted after he left service.

 

Recall that the EFCC by way of its whistleblower coverage raided Yakubu’s visitor home located at Sabon Tasha, Kaduna State, and recovered funds which had been in foreign currency.

 

The EFCC stated it found the sum of $9.7million and £74,000 that the ex-NNPC boss hid in a fireproof secure inside the home.

 

A Federal Excessive Court docket in Kano had on February 13, 2017, issued an interim order that forfeited the recovered monies to the federal authorities.

 

Regardless that the EFCC filed a six-count felony cost towards Yakubu who was the ex-NNPC boss between 2012 and 2014, the court docket, on Could 16, 2019, struck out counts 5 and 6 of the cost based mostly on a no-case-submission that was made by the Defendant.

 

After an attraction by Mr Yakubu, the Abuja Division of the Court docket of Enchantment additional struck out counts 1 and a pair of of the cost and ordered him to open his defence with respect to solely counts three and four of the cost.

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Resuming trial on Wednesday, the Defendant mounted the witness field to relate his personal aspect of the story.

 

Led in proof by his lawyer, Mr. Ahmed Raji, SAN, the ex-NNPC boss stated:

 

“Sure my lord, I affirm that the monies had been contained in a secure taken from my property.

“As I said in my assertion with the EFCC, the cash discovered within the secure is mine. The cash was not obtained in bulk. It was obtained in tranches of no more than $10, 000. 00 and no more than £5, 000. 00 kilos.

“Substantial a part of that quantity was given to me after I left service. It was given to me on such events as birthdays, thanksgiving companies, and different celebrations that I hosted after leaving my workplace.

“I additionally hosted the marriages of my daughters. In actual fact, over 98% of the cash got here from items.

“The aim of conserving the cash was to think about enterprise ventures I’ll embark on, nevertheless it was not my intention to enter a enterprise funding with out going by way of a monetary establishment.

“Because the cash was given to me sudden, I stored the cash in security, in a secure, pending after I determine on a particular enterprise enterprise to embark on. And as quickly as the choice is crystalized, the enterprise can be funded by way of the monetary establishments”.

“For over 25 years, I had purpose by advantage of my schedule to journey to many components of the world. I used to be entitled to estacodes in United States .

“Any saving I made through the journey, I got here again and saved. The opposite 2% of the funds recovered from my secure was from such financial savings I made out of travels.

 

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Throughout cross-examination by the prosecution counsel, Mr. M.S. Abubakar, the ex-NNPC boss instructed the court docket that he joined NNPC in 1980 and have become the Managing Director of a subsidiary of NNPC Warri Petrochemical & Refining Firm in 2007.

 

“I used to be appointed the Govt Director answerable for Exploration and Manufacturing in 2011 at NNPC headquarters.

 

“I grew to become the Group Managing Director of NNPC in 2012 and retired in 2014”.

 

“I used to be instructed that EFCC stormed into my property, broke into my room, took the secure and requested my brother to accompany them to Kano.

 

“After I reported to EFCC’s workplace in Kano, my brother was there”.

 

 

Based on the ex-NNPC boss, a complete of 4 statements had been made to the EFCC.

 

In the meantime, an try by counsel to the EFCC to cross-examine a doc earlier than the court docket marked as Exhibit-J was resisted by the defence lawyer who insisted that it associated to counts of the cost that had been struck out.

 

The choose, Justice Ahmed Mohammed adjourned the case to July 22 for EFCC’s lawyer to reply and for additional cross-examination of the Defendant.

 

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