A former Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Andrew Yakubu, has been granted bail by the Federal High Court Abuja.
Mr. Yakubu was arraigned on a six-count charge of money laundering and false ass,et declaration related the discovery of $9.8million in his house.
Granting the bail, Justice Ahmed Mohammed said the bail condition include a bond of N300 million and two sureties in like sum.
He said one of the sureties must have a landed property within the Abuja metropolis while the other must be a resident.
Mr Mohammed stated that the sureties must submit their international passports along with two passport photographs with the registrar of the court.
The judge further asked the accused to deposit his international passport with the court registrar and not travel outside the jurisdiction of the court.
On the prayer for the release of Mr. Yakubu’s international passport, the judge held that the court is not concerned about that but about whether he is entitled to bail.
Mr Mohammed subsequently fixed trial to May 9, 2017.