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Former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu on Wednesday opened his defence in the money laundering charge against him maintaining that the $9.7 million and £74, 000.00 fund in his house by the Economic and Financial Crimes Commission (EFCC) were personal gifts from people.
The anti-graft agency said the money was hiding in a fireproof safe inside the house.
The money has since been forfeited to the Federal government by an order of a Federal High Court in Kano secured in February 13, 2017 by the EFCC.
The former NNPC GMD was initially arraigned on a six-count criminal charge, the court had on May 16, 2019, struck out counts 5 and 6 of the charge based on a no-case-submission that was made by him.
The charges were further reduced to only counts 3 and 4 by the Abuja Division of the Court of Appeal which struck out counts 1 and 2 of the charge.
In the sustained counts, three and four of the charge marked FHC/ABJ/ CR/ 43/ 2017, EFCC, alleged that Yakubu had between 2012 and 2014, without going through a financial institution, received cash payments of $9, 772, 800 and £74, 000, and thereby committed an offence contrary to section 1 of Money Laundering (Prohibition) Act 2012 and punishable under section 16(2) of the Act.
Yakubu had on March 16, 2017, pleaded not guilty to the charge, even as the court granted him bail to the tune of N300.
“As I stated in my statement with the EFCC, the money found in the safe, is mine. The money was not received in bulk. It was received in tranches of not more than $10, 000. 00 and not more than £5, 000. 00 pounds.
“Substantial part of that amount was given to me after I left service. It was given to me on such occasions as birthdays, thanksgiving services, and other celebrations that I hosted after leaving my office.
“I also hosted marriages of my daughters. In fact, over 98% of the money came from gifts.
“The purpose of keeping the money was to think of business ventures I will embark on, but it was not my intention to go into business investment without going through a financial institution.
“Since the money was given to me unexpected, I kept the money in safety, in a safe, pending when I decide on specific business venture to embark on. And as soon as the decision is crystalized, the business would be funded through the financial institutions.
“For over 25 years, I had reason by virtue of my schedule to travel to many parts of the world. I was entitled to estacodes in United States Dollars.
“Any saving I made during the trip, I came back and saved. The other 2% of the funds recovered from my safe was from such savings I made from travels.
“The prevailing rate of dollar at that time was average of N150 to a Dollar and N250 to Pound Sterling. That was about the bank rate at that time”.
When I was asked the time frame within which the safe was placed in the location, I told them that it was within 2010 to 2014”.
But under cross-examined by the prosecution counsel, Mr. M.S. Abubakar, Yakubu, said he joined NNPC in 1980 and became the Managing Director of a subsidiary of NNPC Warri Petrochemical & Refining Company in 2007.
“I was appointed the Executive Director in charge of Exploration and Production in 2011 at NNPC headquarters.
became the Group Managing Director of NNPC in 2012 and retired in 2014”.
He said his brother Bitrus Yakubu was present when EFCC conducted the search at his house in Kaduna from where the safe and money was found.
“I was told that EFCC stormed into my property, broke into my room, took the safe and asked my brother to accompany them to Kano.
“When I reported to EFCC’s office in Kano, my brother was there”.
The attempt by the EFCC to cross-examine on a document before the court marked as Exhibit-J was resisted by the defence counsel, Raji who insisted that it related to counts of the charge that were struck out.
Justice Ahmed Mohammed adjourned the case to July 22 for the prosecution counsel to respond and for further cross-examination of the Defendant.
