Court Grants Andrew Yakubu N300m Bail

[caption id="attachment_17834" align="alignnone" width="696"]Andrew Yakub, ex-NNPC GMD[/caption]

A Federal High Court sitting in Abuja, on Tuesday, granted former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu, N300m bail.

Recall that Yakubu was arrested by the Economic and Financial Crimes Commission, EFCC, after about $9.8 million cash was found in his house in Kaduna.

The ex-NNPC boss was slammed with a six counts charge, preferred against him by the EFCC, bordering on fraud and false declaration of assets.

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Justice Ahmed Mohammed thereafter ordered that Yakubu be remanded in Kuje Prison.

In his ruling at the resumed hearing today, Justice Mohammed ordered Yakubu to produce two sureties in the like sum.

The judge said the sureties must own properties which must worth the bail sum within the Federal Capital Territory.

He, however, refused to grant the prayer for an order releasing Yakubu’s passport which was said to be in EFCC’s custody.

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The case was adjourned until May 9 for the commencement of trial.

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