Thursday, 16 March 2017

Seized funds: Court remands ex-NNPC GMD in prison

The Federal High Court sitting in Abuja on Thursday remanded ‎ the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, in Kuje prison pending ruling on his bail application. The court will rule on the ex-NNPC chief’s bail application March 21. Yakubu, who is standing trial on a six-count charge of fraud and false declaration of assets, pleaded not guilty to the charges on Thursday. The Economic and Financial Crimes Commission (EFCC) operatives recovered about N3billion in the former NNPC chief’s Kaduna home last month. Justice Ahmed Mohammed ordered that Yakubu be remanded in prison listening to his bail application. The accused counsel, Ahmed Raji (SAN), in his application, urged the court to grant his client’s vail on ‎self-recognisance. But EFCC’s lead prosecuting counsel, Ben Ikani, opposed the bail application. The prosecutor, however, urged the judge to impose stringent conditions if he eventually decides to grant bail to the defendant.

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