Court grants ex-NNPC boss, Yakubu, others N50m bail

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Andrew-Yakubu
Former Group Managing Director of the Nigerian National Petroleum Company, NNPC, Andrew Yakubu was on Monday granted a N50m bail by justice Binta Nyako of a Federal High Court sitting in Abuja.

Yakubu and Omokore were charged along with a co-owner of Atlantic Energy, Kola Aluko Victor Briggs, Abiye Memnere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited for alleged money laundering.

At today’s resumed hearing, counsel to the Federal Government, Rotimi Jacobs urged the court to strike out the name of one of the accused persons, Kola Aluko because he has not been served with the notice of Summons and for also being at large.

Aluko co-owns Atlantic Energy Limited with Omokore, a company allegedly used for the diversion of N400 million in the guise of importing petroleum products in 2011.

But counsel to one of the defendants, Tayo Oyetibo, described Federal government’s delay in serving Aluko with the charges as an abuse of court proceedings.

Oyetibo said, “Section 266 of the Administration of Criminal Justice Act states that their is no trial without arraignment, or service of charge.”

He contended that the inability of the prosecution to provide a proof of service for one of the defendants was a fundamental defect that should not be overlooked.

He argued that the prosecution had forced an adjournment of the matter on June 20, to allow it ensure the full participation of all parties involved in the case, during the next sitting.

After listening to the argument of all the counsels, Justice Nyako held that the accused persons should provide a bail bond of N50m each, with one surety in like sum.

She held that the surety should be owners of properties in Abuja.

The judge also ordered the accused persons to submit their international passports to the court and they are to remain in court premises till they meet the bail conditions.

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