Court grants ex-NNPC GMD, Yakubu N300m bail

A Federal High Court in Abuja has granted a N300m bail to a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu.

The EFCC had arrested and detained Yakubu after $9.8m and £74,000 was discovered in his house in Kaduna.

He was arraigned on a 6-count charge filed by the Economic and Financial Crimes Commission (EFCC).

Justice Ahmed Mohammed said Yakubu’s conduct does not suggest that wanted to jump bail.

The judge said if Yakubu wanted to escape trial, as alleged by the EFCC, he would not have voluntarily returned to honour the commission’s invitation, a claim the EFCC did not deny.

He granted Yabubu bail at N300m with two sureties in the same amount.

The sureties, the judge said, must own properties within the Federal Capital Territory (FCT), which must worth the bail amount.

He refused to grant the prayer releasing Yakubu’s international passport and the one seeking to compel the EFCC to release Yakubu’s international passports still in its custody.

Justice Mohammed adjourned to May 9 for trial.

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