Mr. Andrew Yakubu, a former Group Managing Director of the Nigerian National Petroleum Corporation, opened his defence on his ongoing trial at the Federal High Court in Abuja on Wednesday.
Yakubu, who testified for himself as the first defence witness in the case, told the court that he was contemplating using the sums of $9,772, 800 and £74,000 for business before they were seized by the Economic and Financial Crimes Commission on February 3, 2017.
The EFCC had, on a tip-off, raided Yakubu’s house located on Chikun Road, Sabon Tasha area of Kaduna South Local Government Area of Kaduna State, on February 3, 2017, when they recovered the funds kept in a safe.
He was, in March 2017, arraigned on six charges in connection with the recovered money.
Following his no-case submission, which he filed after the prosecution presented its case, Justice Ahmed Mohammed, dismissed two of the counts in a ruling delivered on May 16, 2019.
The Court of Appeal in Abuja also in an April 24, 2020 judgment affirmed Justice Mohammed’s ruling and dismissed two additional counts.
This left Counts 2 and 3 for Yakubu to defend.
Both the EFCC and the defendant had appealed to the Supreme Court to contest the various parts of the Court of Appeal’s judgment.
The remaining two counts, which Yakubu was ordered to defend by the Court of Appeal are about allegations that between 2012 and 2014, in Abuja, Yakubu allegedly received cash payments of $9,772,800 and £74,000 without going through a financial institution, in alleged violation of section 1(1) of the Money Laundering Act, 2011 and punishable under 16(2) (b) of the Act.
Opening his defence on Wednesday, Yakubu, who was led in evidence by his counsel, Mr Ahmed Raji (SAN), said the money seized by the EFCC was kept at the location in tranches and not in bulk.