A Federal High Court sitting in Abuja, on Tuesday, granted bail to former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mr Andrew Yakubu, in the sum of N300 million and two sureties in like sum.
The Federal Government is prosecuting the former NNPC boss before Justice Ahmed Ramat Mohammed on a six-count charge bordering on financial corruption, false asset and money laundering.
Ruling on Yakubu’s application for bail, argued by his counsel, Ahmed Raji, the trial judge said one of the two sureties to Yakubu 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, according to Justice Mohammed, was 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.