Court orders forfeiture of $9.8m 'loot' to FG

A Federal High Court sitting in Kano presided over by Justice Zainab Abubakar has ordered the forfeiture of the sum of $9,772,00

This was contained in a statement by the EFCC on Tuesday, February 14, 2017.

The order was sequel to an ex parte application by the EFCC seeking an interim forfeiture of the recovered money to the federal government.

The ex parte application was moved by Salihu Sani, counsel for the applicant.

In her ruling, Justice Zainab held that “The sum of $9,772,000 (Nine Million, Seven Hundred and Seventy Two Thousand United States Dollars) and £74,000 (Seventy Four Thousand Pound Sterling) which are now in the custody of the applicant (EFCC) are in the interim forfeited to the Federal Government of Nigeria.”

Operatives of the EFCC stormed a building belonging to the former NNPC boss on February 3, and recovered a staggering sum of $9,772,000 stashed in a huge fire proof safe.

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On February 8, 2017, Yakubu reported to the Commission’s Kano Zonal Office where he admitted being the owner of both the house and the money recovered.

Yakubu is still in custody assisting the investigation.