A former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, wednesday told the Federal High Court in Abuja that the $9.7million and £74,000 found in his house in 2017 by the Economic and Financial Crimes Commission (EFCC), were part of monies people gave to him as gifts.
Yakubu is facing money laundering charge at the Federal High Court in Abuja.
The former NNPC boss, who opened his defence before the trial court, said he received the monies in tranches of not more than $10,000 and not more than £5, 000.
Testifying as his own witness, Yakubu told the court that people gave him monetary gifts on occasions such as birthdays, thanksgiving services, and other celebrations he hosted after he left service.
Officials of the EFCC had on the strength of a tip-off by a whistleblower, raided the defendant’s guest house situated at Sabon Tasha, Kaduna State, and recovered alleged loot, which was in foreign currencies.
EFCC said it discovered the sum of $9.7million and £74,000 that Yakubu hid in a fireproof safe inside the house.