By Sadiq Umar – A Federal High Court sitting in Abuja, on Tuesday granted bail to the former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu in the sum of N300 million and two sureties in likes sum.
Yakubu is standing trial before Justice Ahmed Mohammed, on a six count charge of false asset declaration and money laundering.
The court while ruling on Yakubu’s application for bail argued by his counsel, Ahmed Raji (SAN) also held that one of the two sureties to must have a landed property worth the amount of the bail bond and that the two sureties must swear to an affidavit of means.
Part of the conditions for Yakubu’s bail is that the sureties must submit their international passports along with two passport photographs with the registrar of the court and that the second surety must be a resident of Abuja.
The Judge further stated that the former NNPC boss should also summit his international passport with the court and must not travel outside the country without the permission of the court.
Justice Mohammed, while delivering his ruling on the bail application held that the defendant (Yakubu) is entitled to bail under the Administration of Criminal Justice Act (ACJA) and agreed with the defence counsel that the defendant will not jump bail if granted.
“I have read the summons for bail, written address, affidavit and all the exhibits filed by the defendant as well as the counter affidavit of the prosecution counsel, and I have come to the conclusion that the defendant will attend his trial if released on bail”, he said.
On the prayer for the release of the defendant’s international passport, the judge held that the court is not concerned about that but on whether the defendant is entitled to bail.
The Federal Government is prosecuting the former NNPC GMD before Justice Ahmed Ramat Mohammed on a 6-count charge, bordering on financial corruption, false asset and money laundering.
Earlier, Yakubu had pleaded not guilty to all the charges preferred against him by the Federal Government; a development that made the prosecution counsel to request for date for commencement of his trial.
The matter was adjourned till May 9, 2017 to commence trial.
Justice Mohammed had last Thursday ordered Yakubu’s remand in prison custody after hearing arguments by the prosecution counsel, Prince Ben Ikani and defence counsel on his bail application dated March 13, 2017 and filed same day.
