Former NNPC Boss, Andrew Yakubu has explained the source of the N3.8 billion found in his house in Kaduna State.
While being questioned in the past few days, he insisted that 98% of the entire sum were gifts in mostly tranches of $10,000 and 5,000 pounds sterling.
According to him, he got them as gifts from birthdays, weddings of his daughters, thanksgiving services and other celebrations he hosted after leaving office.
The former NNPC boss added that the rest were savings from the travel allowances he received in office.
Yakubu made the revelations while answering questions by the anti-graft agency, the Economic and Financial Crimes Commission (EFCC).
$9,772,890 was recovered from the country home of the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) in 2017.
An initial 74,000 pound sterling was recovered during a raid on the premises. The said sum was stacked away in a fireproof safe. A further search unearthed $9,772,890.
At the time the monies were discovered, the former NNPC boss declined naming the source of the N3.8 billion current value of the the entire money.
Andrew Yakubu was the Group MD of the NNPC between 2012 and 2014.
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