The suit sought an order from the Federal High Court compelling the anti-graft agency to release the sum of $9.8 million cash seized in his Kaduna residence in 2017.
The sum is being allegedly withheld by the anti-graft agency in violation of a subsisting order of the court.
At the final hearing, Justice Inyang Ekwo fixed November 1 to deliver judgment in the suit on the money seizure.
Yakubu sued the EFCC, Central Bank of Nigeria and a commercial bank for their refusal to release the money after a high court in Abuja discharged and acquitted him from money laundering charges brought against him by the anti-graft agency.
A Federal High Court in Abuja had, on March 31, 2022, quashed the money laundering charges instituted against Yakubu after the EFCC discovered $9, 772, 800 and £74,000 in an apartment linked to him in 2017.
The EFCC had asked Justice Ahmed Mohammed to convict Yakubu for an offence of money laundering and also order the forfeíture of the money to the Federal Government.
But Ahmed Raji, SAN, lawyer to the ex-NNPC GMD, objected to the trial on the ground that the monies found in Yakubu’s house were gifts from friends and associates.
Mohammed had agreed with the defendant’s submissions, acquitted him and ordered the release of his money to him which the EFCC refused to comply with.
But Yakubu’s lawyer returned to court claiming that the monies had not been released as directed by the court.
By way of originating summons, he asked the court to order the release of the money or in the alternative, direct that the money be deposited with the Federal High Court Registrar pending the determination of the suit.
But the EFCC, through its lawyer, Faruk Abdullah, objected to the application saying, appeals have been entered before the Court of Appeal in Abuja against the judgment of the Federal High Court.
At Monday’s proceedings, Ekwo after taking arguments from parties involved in the suit fixed November 1 to give a verdict on whether to compel EFCC to release the money or not.
