Money Laundering: Court Grants Former NNPC GDM, Yakubu N300M Bail

Money Laundering: Court Grants Former NNPC GDM, Yakubu N300M Bail

by | 22nd March 2017
Andrew Yakubu.

A Federal High Court sitting in Abuja has granted bail to the former Group Managing Director of NNPC, Engr. Andrew Yakubu in the sum of three N300 million and two sureties in like sum.


The trial judge, Justice Ahmed Ramat Mohammed said one of the two sureties to Yakubu must have a landed property worth the amount of the bail bond and that the two sureties must swear to an affidavit of means.


The sureties must submit their international passports along with two passport photographs with the registrar of the court.


The judge further stated that the former NNPC boss should also submit his international passport with the court and must not travel outside the country without the permission of the court.


In a related development, Justice Mojisola Olatoregun of a Federal High Court in Lagos has granted bail to two Chinese Nationals Tao Shen and Jing Yau and a Nigerian Chinedu Madubuike who are being tried over charges bordering on alleged importation of fake tyres into the country.


The trial judge granted them bail of N10 million with two sureties each in like sum and said the sureties must show proof of ownership of property within the court’s jurisdiction, and submit their international passports to the court.


The case has been adjourned till May 15 for commencement of trial.