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Wednesday, 10 May 2017

Breaking: Former NNPC GMD, Andrew Yakubu loses bid to retrieve forfeited $9.8m

<img src=" Breaking:-Former-NNPC-GMD,-Andrew-Yakubu-loses-bid-to-retrieve-forfeited-$9.8m .gif" alt=" Breaking: Former NNPC GMD, Andrew Yakubu loses bid to retrieve forfeited $9.8m > </p>


Effort by the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu to recover his $9.8m seized by the Economic and Financial Crimes Commission (EFCC) has suffered a major setback.

This is sequel to the Federal High Court sitting in Kano refusal to grant the ex GMD’s application to overturn the interim order of forfeiture handed to the EFCC Ruling on the application filed by Andrew Yakubu’s lawyer, Ahmad Raji.

Justice Zainab Abubakar said the court has jurisdiction to entertain the case, contrary to the argument of Mr. Raji.

The judge also maintained that the application seeking to set aside the case lacks basic legal framework and that the EFCC is competent according to Section 29 of its Act to seek for the order of interim forfeiture.
 
The EFCC had on February 13, 2017 secured the Federal High Court order on the forfeiture of the over $9.8 million retrieved from Andrew Yakubu’s house in Kaduna

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