February 11, 2017

Recovered $9.8m: Why Jonathan sacked Yakubu, ex-NNPC head in in 2014

Andrew Yakubu

Andrew Yakubu, ex-NNPC GMD: says loot was a gift by ‘unknown persons’

BY Soni Daniel & Charles Kumolu

SHOCKING revelations emerged yesterday regarding the recovery of $9.8 million cash by the Economic and Financial Crimes Commission, EFCC, from the Kaduna residence of a former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Dr. Adrew Yakubu, who claimed the recovered money was given to him by donors.

Saturday Vanguard learnt that the whopping amount of money was hidden in a fire-proof safe and kept in an inconsequential building allegedly owned by the former head of the state-owned Oil and Gas company. The discovery of the stashed money in Sabon Tesha, a suburb in Kaduna, was the peak of an investigation by the commission into the period Yakubu headed the NNPC in the last dispensation.

Acting on an intelligence, the commission, it was gathered, commenced investigation leading to the discovery of the funds in a facility, whose caretaker, Mr. Bitrus Yakubu, claimed to be a younger brother to the ex-NNPC boss.

Andrew Yakubu, ex-NNPC GMD: says loot was a gift by ‘unknown persons’

The younger Yakubu, who was around as of the time EFCC officials stormed the building noted that his elder brother owned the building and the safe where the cash was hidden.

It was further learnt that when the safe was opened, it contained the sum of $9,772,800 and another sum of £74,000.

On the strength of the finding which was confirmed by the Spokesperson of the EFCC, Mr. Wilson Uwujaren, Saturday Vanguard gathered that Yakubu was invited on February 8, 2017, by the commission and consequently detained.

The former NNPC boss, who is currently being held by the anti-corruption agency, acknowledged owning the recovered money.

Yakubu, ex-NNPC GMD hides $9.8m loot in Kaduna slum

Yakubu, who was relieved of his position as the head of the NNPC in 2014 by ex-President Goodluck Jonathan, was the fourth head of the corporation in that dispensation.

His appointment which took effect on July 1, 2012, was reported to have been terminated as a result of disagreement over who to appoint as the Managing Director of Nigerian Petroleum Development Company Limited, NPDC.

An investigation by Premium Times had revealed that Yakubu’s insistence that only someone with technical background was fit to head the NPDC, resulted in a clash of interests with the then Minister of Petroleum, who allegedly engineered his removal by the administration of ex-President  Jonathan.