Ex-NNPC GMD, Yakubu opens up on $9.7m, £74,000 recovered from his house

It was his testimony  that people gave him monetary gifts on occasions such as birthdays, thanksgiving services, and other celebrations he hosted after he left service.

The defendant who was led  in evidence by his counsel,  Mr. Ahmed Raji, SAN, said: “Yes my lord, I confirm that the monies were contained in a safe taken from my property.

“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.

SOURCE: TheSun