A former Group Managing Director, GMD, of Nigeria’s oil corporation, NNPC, who was accused of fraud, has been granted a N300 million bail, by an Abuja court.
Recall, that the All Progressives Congress, APC, defended him when former President, Goodluck Jonathan, kicked him out of office, in 2014.
The charges relates to the discovery by the Economic and Financial Crimes Commission, EFCC, of $9.8 million, and £74,000 in cash, at a property in Kaduna.Andrew Yakubu, the ex-GMD of the Nigerian National Petroleum Corporation, NNPC, was recently charged with money laundering and fraud, when he appeared in court, in Abuja, on March 16.
He was also charged with failing to make a “full disclosure” of his assets, and for unlawfully transporting the cash to the city. He pleaded not guilty.
Judge Ahmed Mohammed, sitting at the Federal High Court, remanded Yakubu in custody, until next week Tuesday, when he will hear the bail application.
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