Stashed $9.7m Cash Found in Nigeria Raid

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A total sum of $9.7m belonging to Dr. Andrew Yakubu, a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), was discovered on 3 February by agents from the Economic and Financial Crimes Commission (EFCC). The money was stashed in one of Dr. Yakubu`s buildings in Kaduna, Northern Nigeria.

Apart from the staggering sum of $9.7m [ £7.7m], another sum of £74,000 [$92,500] cash was discovered in a fire proof safe.

Mr. Yakubu, who had reported to the commission`s office in Kano, Northern Nigeria, admitted the money belonged to him. However, he claimed it was given to him as gift[s], even though he could not disclose the identities of the givers. Dr. Andrew Yakubu who severed as NNPC executive for two years from 2012, is said to be extremely rich.

One does not need to wonder whether Dr. Yakubu made his millions from his brief two-year job at the NNPC; after all, Dr. Yakubu has made it clear that the impounded millions were “gifts.“ Perhaps that might explain why Dr. Yakubu preferred not to deposit the money in a bank. Would it not be convincing, an excuse from him, to even claim he does not trust banks, hence his decision to rather stockpile the millions in a safe? However, having in mind, the billions of dollars and assets discovered and appropriated from the likes of Mrs. Diezani  AlisonMadueke, the former oil minister of Nigeria, those who are crying for the head of Dr. Andrew Yakubu should better sharpen their anti- corruption knives very well because there as so many heads to cut.

Definitely, the $9.7m confiscated from Dr. Yakubu is just a piece of an iceberg in the Nigerian rotten corruption water.