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Ex NNPC GMD gets N300m bail

Former Group Managing Director (GMD) of  the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, has been admitted to bail by the federal high court abuja.

Yakubu was arraigned on  a six count charge of money laundering and false asset declaration.

The trial judge, Justice Ahmed Mohammed granted him bail to the tune of N300million and two sureties  in like sum.

One of the surety must have a landed property within the abuja metropolis while the other must be a residence.

Part of the conditions for Yakubu’s bail, according to Justice Mohammed is that the sureties must submit their international passports along with two passport photographs with the registrar of the court

He was also asked to deposit his international passport with the court registrar and not travel outside the jurisdiction of the court.

On the prayer for the release of the defendant’s international passport, the judge held that the court is not concerned about that but on whether the defendant is entitled to bail.

Justice Mohammed subsequently fixed trial to May 9, 2017.

The post Ex NNPC GMD gets N300m bail appeared first on BusinessDay : News you can trust.

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