The Federal High Court, Abuja, on Tuesday admitted Andrew Yakubu, former Group
Managing Director, Nigeria National Petroleum Corporation (NNPC), to N300
million bail with two sureties.
Yakubu 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.
Yakubu 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.
The judge adjourned the matter
until May 9 for commencement of trial.
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