Promoting Good Governance.

EFCC Found Millions Of Dollars In The Home Of Former NNPC GMD

Former NNPC GMD, Andrew Yakubu
Former NNPC GMD, Andrew Yakubu

The Economic and Financial Crimes Commission, EFCC, has revealed that it found a total of $9.2 Million and 750,000 pounds in the Kaduna residence of former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu.

Acting Chairman of the EFCC, Ibrahim Magu made the disclosure when he appeared before the House of Representatives’ Committee on Financial Crimes on Thursday, to explain how the commission utilized its 2016 budget as well as defend the 2017 budget proposal.

It was not immediately clear when operatives of the EFCC carried out the raid on Yakubu’s residence but Magu told the House committee members that the sum was the largest recovered sum from a single individual in recent times.

Going by the current exchange rate, the money recovered from the ex-NNPC GMD is more than N3 billion.

The acting EFCC boss also revealed that N1.25 billion was recovered from another public servant, all in the past two weeks.

Giving more details of the anti-graft agencies activities, Magu noted that the total amount recovered by the commission between January and December 2016 was as follows: N102.91 billion; $8.30 million dollars; 2,915,512.475 pounds; 117,004 Canadian dollars; 806.50 Dirham; 5,000 Francs and 2,000 Rupees.

A document presented to the House financial crimes’ committee by the EFCC shows that the commission froze 37 bank accounts, out of which “six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review.”

The document also indicates that the EFCC in 2016 secured 135 convictions, across the different zones of the federation.

Lagos zone recorded the highest number of convictions of 46, followed by Abuja zone with 30, Port Harcourt zone – 22, Kano zone – 19, Enugu zone – 15 and Gombe zone – 3.

Magu also commended the lawmakers for their support towards fast-tracking the completion of EFCC headquarters in Abuja.

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