Former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu has said 98 percent of the $9,772,800 and £74,000 cash recovered from a safe in his house in Kaduna State were birthday, naming ceremonies’ gifts from well-wishers.
Yakubu said two per cent of the money is from the savings he made from the estacode he received while in office.
In February 2017, the EFCC recovered $9,772,800 and £74,000 from Yakubu’s home in Kaduna.
Yakubu, who was a GMD at the NNPC between 2012 and 2014, was also accused of failing to disclose the monies in his asset declaration form.
He was subsequently charged to court and arraigned on six counts of money laundering.
However, while giving evidence as the first defence witness, Yakubu said 97 percent to 98 percent of the sum were gifts.
“The money was not received in bulk but in tranches of not more than $10,000 and not more than £5,000. And a substantial part of the money was given to me after I left office.
“And it was given to me on the occasions of birthdays, thanksgiving services, weddings of my daughters and other celebrations that I hosted after leaving office,” he said.
Yakubu also claimed he got two percent of the monies by saving from estacodes.
The case has been adjourned until July 22.