The Federal High Court, Kano on Tuesday ordered that the $9.8 million and 74,000 pounds recovered from a house belonging to Andrew Yakubu be forfeited to the Nigerian government.
The anti-graft agency, EFCC, last Friday announced it recovered the money (about N3 billion in total) from a Kaduna home of the former head of the state oil firm, NNPC.
Mr. Yakubu, who reportedly admitted owning the money has since been arrested and is in custody of the EFCC.
The Federal High Court in Kano presided over by Justice Zainab Abubakar who ordered the forfeiture 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”
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 application was moved by Salihu Sani, counsel for the applicant.
The huge cash was hidden in a fire proof safe, the commission had said.
The spokesperson for the EFCC, Wilson Uwujaren, said in a statement that 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.