Photos: How Yakubu, ex-NNPC GMD hides $9.8m loot in Kaduna slum

The Economic and Financial Crimes Commission has elaborated on how its operatives stumbled on the $9.8 million loot recovered from Andrew Yakubu, a former Group Managing Director of the Nigerian National Petroleum Corporation.

Earlier report had estimated the loot at $9.2million. But the Commission said it is $9,772,800.

Andrew Yakubu, Ex-GMD, NNPC: The dollar man

The commission said a special operation conducted by its operatives on 3rd February on a building belonging to Yakubu in Kaduna yielded the staggering sum and another £74,000 (Seventy Four Thousand Pound Sterling) cash.

The huge cash was hidden in a fire proof safe.

The surprise raid of the facility was sequel to an intelligence which the commission received about suspected proceeds of crime believed to be hidden in the slums of Sabon Tasha area of Kaduna. Sabon Tasha is a poverty stricken area of the capital.

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The fire proof safe where the money was kept

On arrival at the facility, the caretaker of the house, one Bitrus Yakubu, a younger brother to Andrew Yakubu, disclosed that both the house and the safe where the money was found belong to his brother, Andrew Yakubu.

Counting Yakubu Dollars

“When the safe was opened it was discovered that it contained the sum of $9,772,800 (Nine Million, Seven Hundred and Seventy Two Thousand, Eight Hundred United States Dollars) and another sum of £74,000 (Seventy Four Thousand Pound Sterling).

The most surprising: the huge money was kept in this small bungalow in Sabon Tasha

On February 8, 2017, Andrew Yakubu reported to the Commission’s Zonal office in Kano and made statement wherein he admitted ownership of the recovered money, claiming it was gift from unnamed persons. He is currently assisting the investigation.

Yakubu was GMD of the NNPC between 2012 and 2014.

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