Court clears ex-NNPC GMD of alleged $9.8m money laundering
A Federal High Court in Abuja, has discharged and acquitted Andrew Yakubu, a former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) of allegedly laundering $9.8 million dollars.
Delivering judgement on Thursday, Justice Ahmed Mohammed held that the Economic and Financial Crimes Commission (EFCC) failed to prove its case beyond reasonable doubt and ordered that the seized 9.8 million dollars be returned to Yakubu.
According to the Judge, the EFCC failed to prove the three ingredients of Section I of the Money Laundering Prohibition Act which it relied upon.
The Judge ruled that to sustain the conviction of the defendant under the Act, the burden of proof was on the prosecution.
He described the vital ingredients in counts three and four, which the anti-graft agency charged the ex-GMD to include receiving cash payment above $5million, failure to go through a financial institution and that the defendant is a natural person.
Yakubu had ommitted the money from his asset declaration form which he filled in 2015.
Justice Mohammed said, “Though the EFCC called six witnesses against Yakubu, the ex-GMD, while demonstrating the ownership of the money allegedly laundered, said the money was received as gifts and goodwill from friends and well wishers after his retirement in 2014.
Mohammed said that Yakubu, while giving his evidence as first defence witness (DW1), said that the monies, which were in naira and foreign currencies, were received in bits, not as a whole as alleged by the prosecution.
The judge held that the EFCC ought to have applied that Yakubu should mention the names of the donors and if possible, invite them for questioning but failed to do so.
The anti-graft agency had, in 2017, raided the residence of the ex-NNPC boss in Kaduna and found 9, 772, 800 dollars and 74, 000 pounds (9.7 million dollars and 74, 000 pounds) in a safe.
Yakubu was arraigned on March 16, 2017, on six counts but the trial court struck out counts one and two.
The Court of Appeal also struck out counts five and six and ordered Yakubu to defend himself on counts three and four.
Counts three and four which bordered on failure to make full disclosure of assets, receiving cash without going through a financial institution and intent to avoid a lawful transaction in alleged violation of Section 1(1) of the Money Laundering Act, 2011 and punishable under Section 16(2)(b) of the Act.
