The Federal High Court Abuja yesterday ordered the remand of former Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, in Kuje prison and fixed March 21 for ruling on bail application.
He was arraigned on a six-count criminal charge bordering on money laundering and corruption.
Yakubu, who served as the NNPC chief executive in the last administration, was accused of receiving money without going through a financial institution and failing to declare same.
Yakubu was also accused of failing to declare the sum $9.7 million in his Assets Declaration Form, which he filed at the Economic and Financial Crimes Commission (EFCC) on August 18, 2015.
The EFCC also alleged that Yakubu transported the foreign currencies to his house in Sabon Tasha, Kaduna South Local Government Area of Kaduna State, with the intent to avoid a lawful transaction.
He was equally accused of receiving payment of £74, 000 without going through a financial institution as required by law during his tenure.
He however pleaded not guilty to all the charges.
After taking his plea, the prosecution counsel, Ben Ikani, asked the trial Judge, Justice Ahmed Mohammed for a date to commence trial.
But counsel to the defendant, Ahmed Raji (SAN), applied to the court for the bail of his client on self recognition or in the most liberal terms.
Raji argued that Andrew Yakubu was in the United Kingdom on medical trip when EFCC’s invitation came to him and he hurriedly came down to Nigeria to honour the invitation after suspending the medical attention.
Raji equally asked the court for temporary release of Yakubu’s travel documents to enable him complete his treatment abroad.
He further argued that the defendant has no criminal records and has been co-operating with the EFCC since the commencement of investigation. As such, he held that the claim by the prosecution that he would not be available to face his trial was not tenable.
Opposing the bail application, the prosecution counsel urged the court to either refuse the defendant bail or in the alternative, impose stringent conditions that would enable the defendant attend his trial.
He added that the charges attract 10 years imprisonment or with fine.
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