Abuja, Nigeria | – The former group managing director of Nigeria’s state oil company, the Nigerian National Petroleum Corporation (NNPC), was charged in court on Thursday with money laundering and five counts of fraud.
The Economic and Financial Crimes Commission (EFCC) said last month it had arrested Andrew Yakubu and seized $9.8 million from the former head of the Nigerian National Petroleum Corporation (NNPC) in the northern city of Kaduna.
“Former GMD, NNPC, Andrew Yakubu who was arraigned today, March 16, 2017 before Justice A R Mohammed of the Federal High Court, sitting in Abuja, on a six count charge bordering on non-disclosure of assets, money laundering and advance fee fraud,” the EFCC said in a statement. Yakubu will remain in custody and reappear in court on March 21, it added.
Meanwhile, the former group managing director of Nigeria’s oil corporation who was accused of fraud was today granted a 300 million Naira bail by an Abuja court.
Andrew Yakubu, the ex-group managing director of the Nigerian National Petroleum Corporation (NNPC), was charged with money laundering and fraud when he appeared in court in Abuja on March 16.
The charges relate to the discovery by the Economic and Financial Crimes Commission (EFCC) of $9.8 million and £74,000 in cash at a property in Kaduna.
He was also charged with failing to make a “full disclosure” of his assets and for unlawfully transporting the cash to the city. He pleaded not guilty.
Andrew Yakubu was group managing director of the NNPC from 2012 to 2014 during the presidency of Goodluck Jonathan.
