A former Group Managing Director of the Nigeria National Petroleum Corporation NNPC, Mr. Andrew Yakubu, was on Wednesday arraigned on a six count criminal charge, boarding on Money laundering and corruption.
Yakubu, who served as the NNPC Chief Executive in the last dispensation, was accused of money laundering, receiving money without going through a financial institution and declaring same.
He however, denied all the charges brought against him by the Federal Government.
Mr. Yakubu is accused of failure to declare 9.7million Dollars in his asset declaration form which he filed at the EFCC on August 18.
The EFCC also alleged that the defendants transported the foreign currencies to Kaduna state with the intent to avoid a lawful transaction.?
He is also accused of receiving payment of 74,000 Pounds without going through a financial institution as required by law during his tenure as GMD of NNPC
Shortly after, counsel to the defendant, Mr. Ahmed Raji applied to the court to grant his client bail on self recognizance or in the most liberal terms.?
He also asked the court to order that his client’s International Passport be released temporarily to enable him complete a three weeks medical trip abroad.
Mr. Raji informed the court that Mr. Yakubu was in the UK on medical trip which he suspended upon the invitation of the EFCC.
He further argued that the defendant has no criminal records and has been cooperating with the EFCC since the commencement of investigation and as such the claim by the prosecution that he would not be available.
Opposing the bail however, the prosecutor Mr. Ben Ikani, urged the court to either refuse bail or in the alternative, impose a stringent condition that would enable the defendant attend trial because the charge attracts imprisonment of 10 years or with fine.
Having listening to both parties, the trial judge, Justice Ahmed Mohammed ? adjourned to March 21, 2017 for ruling.
He also ordered that he be remanded in Kuje prison, pending the determination of the bail application.
Source: Channels TV