The Acting Chairman of Economic and Financial Crimes
Commission (EFCC), Mr Ibrahim Magu, on Thursday told a committee of the House
of Representatives that $9.2 million and 750,000 pounds were recovered from a
residence in Kaduna state.
Although he did not indicate precisely when the
raid by EFCC operatives was carried out, the News Agency of Nigeria learnt that
the foreign money was recovered in the home of Andrew Yakubu, a former Group
Managing Director of the Nigerian National Petroleum Corporation.
The huge money, which is in excess of N3 billion by official exchange rate, was the largest ever recovered by the agency in recent weeks.
Magu also disclosed to the House of
Representatives Committee on Financial Crimes that N1.25 billion was recovered
from a public servant, all in the last two weeks.
Yakubu, who served as GMD between 2012 and 2014 is already facing trial for money laundering.
He was charged by the EFCC in June 2016.
Magu was at the House of Representatives to present an appraisal of the Commission’s2016 budget performance and also defend 2017 budget.
He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.
Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.
“Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review,’’ he said.
Yakubu, who served as GMD between 2012 and 2014 is already facing trial for money laundering.
He was charged by the EFCC in June 2016.
Magu was at the House of Representatives to present an appraisal of the Commission’s2016 budget performance and also defend 2017 budget.
He said the commission recovered N102.91 billion, 8.30 million dollars, GBP 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016.
Other monies recovered during the period, he said, were 806.50 Dirham, 5,000 Francs and 2,000 Rupees.
“Out of the 37 accounts frozen/forfeited, six banks are yet to provide relevant information on the amount accrued into the suspected accounts within the period under review,’’ he said.
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