The Economic and Financial Crimes Commission (EFCC) says it has arrested a former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Andrew Yakubu, following the recovery of $9,772,800 and £74,000 cash from him.
It was gathered that the former GMD has been detained in an EFCC facility in Kano.
The cash was discovered by the EFCC in a fire-proof safe at the house of the suspect’s brother in a slum in Sabon Tasha area of Kaduna metropolis.
Sources said he admitted the ownership of the money which he described as a gift.
He did not name the givers.
But he was driven to Kaduna Friday by the EFCC for a fresh search.
A highly-placed EFCC source said yesterday that Yakubu was co-operating well with his interrogators.
“ So far, he has cooperated with our investigators by admitting ownership of the funds,” the source told The Nation.
“As I speak with you, we have taken him to Kaduna for another round of search . We are suspecting that there could be more of such slush funds hidden elsewhere. We are not prepared to take things for granted.”
Asked whether the ex-GMD could face trial, the source said: “All I can tell you is that investigation is still on. We are glad that we have recorded a breakthrough.
