Ebun Francis || A Federal High Court in Abuja, on Tuesday, granted Andrew Yakubu, former Group Managing Director of NNPC bail to the sum N300 million bail with two sureties.
The former GMD of NNPC was arraigned by the Economic and Financial Crimes Commission (EFCC) on six counts bordering on non-disclosure of assets and fraud, charges to which he pleaded not guilty.
He was alleged to have as “Group Managing Director of NNPC, between 2012 and 2014, within the jurisdiction of the court, with intent to avoid lawful transaction, transported to Kaduna $9.7 million and €74,000’’.
He was also accused of failure to disclose the sum of $9.7 million and €74,000 to the EFCC in his asset declaration form, a crime which contravened Section 27 (3) of the EFCC Act.
At the resumed hearing to determine bail application, Justice Ahmed Mohammed, said that from the arguments canvassed and placed before him by the defence team, Yakubu was not likely to jump bail.
He said, the fact that Yakubu received an invitation from EFCC while abroad and decided to honour it, shows that he is not someone who would jump bail.
He said, “Yakubu is also not to travel outside the country during the pendency of the trial and must remain in prison custody until he perfects his bail condition.”
The matter was adjourned to May 9 f the commencement of trial.