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Home / Business / N3bn Siezed, Court Remands Ex-NNPC Boss Yakubu In Kuje Prison

N3bn Siezed, Court Remands Ex-NNPC Boss Yakubu In Kuje Prison

A Federal High Court in Abuja on Thursday remanded a former Group Managing Director of the Nigerian National Petroleum Corporation , Mr Andrew Yakubu , in Kuje Prison pending when the ruling on his bail application would be delivered on March 21.

Justice Ahmed Mohammed gave the order of remand shortly after the ex -NNPC boss was arraigned and his bail application argued on Thursday .

Yakubu , on Thursday , pleaded not guilty to the six charges preferred against him by the Economic and Financial Crimes Commission on March 10 .

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The charges bordered on fraud and false declaration of assets against him .

The charges were all in relation to the money recovered from his house in Kaduna on February 3 .

Operatives of the EFCC had stormed a building belonging to the former NNPC boss and recovered the sum of $ 9.7 m and £ 74,000 stashed in a huge fireproof safe in a slum in Kaduna .

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The sums of foreign currencies amounted to about N3 bn.

Arguing his client ’ s bail application shortly after the arraignment, Mr Ahmed Raji ( SAN ), urged the court to grant bail to the former NNPC boss on either self – recognisance.

But EFCC ’ s lead prosecuting counsel, Mr Ben Ikani , opposed the bail application .

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