$9.7m: Court grants former NNPC boss, Andrew Yakubu N300m bail

A Federal High Court in Abuja has granted bail in the sum of N300 million to former NNPC Managing Director, Andrew Yakubu, who has been accused of embezzling funds of the oil corporation while he was in office. Recall that on Febuary 10th, EFCC operatives raided one of his homes in Kaduna and found a fireproof safe that had in it $9.8 million cash and £72,000.

He was then arrested and first arraigned in court on March 16th Delivering judgement on his bail application, the presiding judge said Yakubu is to produce two suretees as part of his bail conditions.