Alleged $9.8m Fraud: Ex-NNPC GMD, Andrew Yakubu, Knows Fate On March 31

A Federal High Court, Abuja, on Tuesday, fixed March 31 for judgment in the $9.8 million fraud charge filed against Andrew Yakubu, former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC).

Justice Ahmed Mohammed fixed the date after counsel to the Economic and Financial Crimes Commission (EFCC), Farouk Abdullah, and the defence lawyer, Ahmed Raji, adopted their final written addresses in the matter.

When the matter was called, Raji disclosed that the matter was adjourned for the adoption of the final written addresses and that he was ready for the business of the day. Abdullah too spoke in the same vein.

Adopting his application, Raji said that the defendant (Yakubu) was before the court pursuant to the judgment of the Court of Appeal delivered in the matter on April 24, 2020, wherein it directed that Yakubu should come and explain his own side of his story by entering into his defence with respect to count three and four.

The anti-graft agency had, in 2017, raided the residence of the ex-NNPC boss in Kaduna and found $9,772,800 and 74,000 pounds in a safe.

Yakubu was, however, arraigned on March 16, 2017, on six counts but the trial court struck out counts one and two.

The Court of Appeal also struck out counts five and six and ordered Yakubu to defend himself on counts three and four.

Counts three and four which bordered on failure to make full disclosure of assets, receiving cash without going through a financial institution and intent to avoid a lawful transaction in alleged violation of Section 1(1) of the Money Laundering Act, 2011 and punishable under Section 16(2)(b) of the Act

Justice Mohammed, who fixed March 31 for judgment, said: “Having listened to the final arguments of counsel to the prosecution and defence, this case is reserved for final judgment on March 31.”