EFCC Recovers Billions In Cash In Home Of Ex-NNPC GMD

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The Economic and Financial Crimes Commission, EFCC, yesterday, said it raided the home of a former Group Managing Director of Nigerian National Petroleum Corporation, NNPC, in Kaduna and allegedly recovered $9.2 million in his safe.

Speaking to a committee of the House of Representatives, Mr Ibrahim Magu, the Acting Chairman also said 750,000 pounds was also recovered from the residence in Kaduna state.

He further revealed that N1.25 billion was recovered from a public servant, adding that all the monies were recovered within two weeks.

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Although he did not indicate precisely when the raid by EFCC operatives was carried out, NAN reports that the foreign money was recovered in the home of Andrew Yakubu, a former Group Managing Director of the Nigerian National Petroleum Corporation.

The huge money, which is in excess of N3 billion by official exchange rate, was the largest ever recovered by the agency in recent weeks.

He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.

Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.

“Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review,’’ he said.



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