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 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 of the Money Laundering Act, 2011 and punishable under 16 of the Act.
Yakubu said, “As I stated in my statement to the EFCC, the money found in the safe is mine. The money was not received in bulk. It was received in tranches of not more than $10,000 and not more than £5,000 .