The Economic and Financial Crimes Commission, (EFCC) has accused former Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu of not declaring the sum of $9,772,800 and £74,000 found in his Kaduna home, when they searched.
The EFCC told the court that Yakubu who was GMD of the NNPC between 2012 and 2014, kept the money which was about N3billion inside a fire proof treasury in his house.
It said it took the intervention of an expert that cracked the code the defendant used in locking the safe where the foreign currencies were found.
EFCC called one of its lead detectives in Kano State, Mr. Sambo Muazu, to testify before the court.
In his Evidence-In-Chief, Muazu, told the court that he took statement from the ex-NNPC boss who filed an EFCC asset declaration form later.
The witness who was led in evidence by the prosecution counsel, Mr. Ben Ikani, said the defendant, while filing the form, failed to list the recovered monies among his assets.
According to the witness, “In 2015, we commenced investigation into two categories of contracts which were awarded by NNPC and its subsidiaries.
“The first category relates to Strategic Alliance Agreement (SAA) between NNPC’s subsidiary, the Nigerian Petroleum Development Company (NPDC) Limited and Atlantic Energy Drilling Concept Limited (AEDCL). The contract was signed between NPDC and AEDCL.
“The first SAA was on Oil Mining Lease (OML) 26, 30, 34, 40 and 42. The second SAA was on OML 60, 61, 62, and 63.
“The investigation was sequel to intelligence report received by the EFCC relating to suspicious fund transfers from AEDCL’s account in Nigeria to a sister company called Atlantic Energy Holdings (AEH)
“Also, additional transfers from Atlantic Energy Brass Development Limited (AEBDL) to the same Atlantic Energy Holdings. The AHL’s accounts are based in Switzerland.
“There were also transfers from Atlantic Energy Holdings account in Switzerland to the Nigerian accounts of the two sister companies , AEDCL and AEBDL.
“It was on the basis of these suspicious transactions that we commenced investigation.
“In the course of investigation, it became necessary to seek clarification from Engr. Andrew Yakubu. He was accordingly invited, and we interacted with him. And thereafter, we reduced the interaction into writing.
“The two SAA were executed between the end of 2011 to 2014 April, during which Engr. Andrew Yakubu was the Group Managing Director of NNPC. He was in office from June 2012 to August 2014.
“After our interaction and his statement recorded, he declared his assets sometime between July and August 2015.
“The EFCC has a standard assets declaration form. A copy of that form was given to Engr. Andrew Yakubu. He filled the form, declaring his assets.
“He was asked to declare his assets based on the allegations that the company Atlantic Energy Drilling Concept was allowed to lift crude oil worth over $1billion without fulfilling the necessary obligations on their path.
“It was on this basis that investigation was conducted and thereafter, some individuals were charged to court.”