A Federal High Court In Kado on Wednesday, May 10, rejected the application of former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu, to recover the $9.8m seized from him by the Economic and Financial Crimes Commission.
Mr. Yakubu had filed an application before a Federal High Court in Kano asking the court to overturn an interim order of forfeiture secured by the EFCC in February for the cash.
The former NNPC boss was on Thursday, March 16, arranged by the court.
Operatives of the EFCC had stormed a building belonging to the former NNPC boss and recovered the sum of $9.7m and £74,000 stashed in a fireproof safe in a mud-like hiuse in Kaduna.
The sums of foreign currencies amounted to about N3bn.
Recall that, Mr. Yakubu in an affidavit, which he filed before a Federal High Court in Abuja stated that the sums of money seized, were not gifts he got “as a public servant or while he was a public servant”.
According to him, the funds were gifts he got through goodwill, which he enjoyed during various celebrations and ceremonies he hosted in a period of five years.