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Court Rejects Yakubu’s Bid To Retrieve Forfeited $9.8m [Update]

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A Federal High Court sitting in Kano has rejected an application filed by a a former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC Andrew Yakubu.

Yakubu in his application, asked the court to reverse the forfeiture order of $9.8 million and £74,000 discovered in his home.

In her ruling, the judge Justice Zainab Abubakar dismissed the application for lack of merit.

The money was discovered in February by the EFCC in a hidden fireproof safe in the former MD’s house.

The former NNPC boss admitted owning the money but said it was gift from acquaintances.

Yakubu is currently facing charges of money laundering before the Federal High Court in Abuja.

He was appointed NNPC GMD in 2012, and was replaced by Joseph Dawha in 2014.

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