The former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, is set to learn the outcome of his case on November 1, which revolves around his attempt to compel the Economic and Financial Crimes Commission (EFCC) to return $9.8 million in cash that was seized from his Kaduna residence in 2017. The cash has been allegedly held by the anti-graft agency in defiance of a standing court order.
Justice Inyang Eden Ekwo has scheduled November 1 as the date for delivering the judgment in this matter. Yakubu filed a lawsuit against the EFCC, the Central Bank of Nigeria (CBN), and a commercial bank due to their refusal to release the money, despite a high court in Abuja clearing him of money laundering charges filed against him by the EFCC.
In March 31, 2022, a Federal High Court in Abuja dismissed the money laundering charges brought against Yakubu after the EFCC discovered $9,772,800 and £74,000 in an apartment associated with him in 2017. The EFCC had sought to convict Yakubu for money laundering and requested the forfeiture of the money to the Federal Government. However, Ahmed Raji, SAN, the lawyer representing the former NNPC GMD, argued that the money found in Yakubu’s house were gifts from friends and associates.
Justice Mohammed concurred with the defendant’s arguments, acquitted Yakubu, and ordered the release of his money, a directive that the EFCC did not comply with. Yakubu’s lawyer returned to court, asserting that the money had not been released as ordered by the court.
Through an originating summons, he asked the court to compel the release of the money, or alternatively, direct that the money be deposited with the Federal High Court Registrar while the suit is being determined. The EFCC, represented by its lawyer, Faruk Abdullah, objected to the application, citing appeals that had been filed with the Court of Appeal in Abuja against the judgment of the Federal High Court.
During the proceedings on Monday, Justice Ekwo heard arguments from the involved parties and scheduled November 1 as the date to render a verdict on whether to mandate the EFCC to release the money or not.