Just In: Former Group Managing Director of the NNPC, Andrew Yakubu Granted Bail

A Federal High Court in Abuja on Tuesday granted bail to Andrew Yakubu, a former head of Nigeria’s state oil firm, NNPC.

Mr. Yakubu was arrested by the anti-graft EFCC after about $9.8 million cash was found in his house in Kaduna.

The court granted Mr. Yakubu a N300 million bail while he was also asked to produce two sureties.

Yakubu was arraigned on a six-count charge of fraud at the Federal High Court, Abuja.

Justice Ahmed Mohammed then ordered he be remanded in Kuje prison pending the determination of his bail application on March 21.