A Federal High Court Sitting in Abuja on Monday ordered the Economic and Financial Crimes Commission (EFCC), to deposit the sum of $9.7m and £74,000 it’s seized from Mr. Andrew Yakubu a former Group Managing Director of Nigerian National Petroleum Corporation.(NNPC), with the Court pending an Appeal Court decision on a criminal matter against Yakubu.
Justice Inyany Eko made the order while delivering Judgement in a suit filed by Mr.Andrew Yakubu who served as GMD NNPC between between 2012 and 2014.
He held that EFCC was in error when it claimed that is holding on to the monies based on interim forfeiture order. He said that interim order which the anti graft agency relied on is not exchangeable with final forfeiture order.
“Interim forfeiture order can
only last for as long the criminal trial proceedings last and terminates where the trial ends and judgement is given.
“The correct position of the law is that where the person being tried is discharged and acquitted, the EFCC Act does not permit the EFCC to continue to keep the asset or property of the person”. the court held.
It added , It is when the person is convicted that the EFCC or any other authorized officer shall apply to the Court for final forfeiture of the convicted assets and properties acquired or obtained as a result of the crime.
The Court said EFCC admitted the case of the plaintiff that they are in possession of sum of $9,773,200.00 and £74,000.00 because of the the interim order it obtained on February 13, 2017 .
Recall that operatives of EFCC in 2017 discovered the said amount in dispute the sum of $9.7million and £74,000 cash hid in a fireproof safe inside Yakubu’s house in Kaduna.
Following the discovery, the Federal High Court in Kano, on February 13, 2017, granted an interim order for the monies to be forfeited to the federal government.
The Court of Appeal sitting in Kaduna, in 2018, upheld the interim forfeiture order.
Following the discovery Yakubu was arraigned for money laundering,but he told trial court that the seized monies were part of gifts he received on various occasions.
He also told the court that people gave him monetary gifts on occasions such as birthdays, thanksgiving services, and other celebrations he hosted after he left service.
Consequently,the court freed Yakubu of the charges and acquitted him. But the anti graft agency held on to the monies on the ground that there is an appeal on the criminal aspect of the case pending before the Court of Appeal.