Andrew Yakubu, a former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has been remanded in Kuje prison on the order of the Federal High Court in Abuja.
Yakubu, who was accused of stashing over N3billion in his house in Kaduna, was remanded on Thursday on the order of the trial judge, Justice Ahmad Mohammed, pending the time the court will rule on his bail application.
He was arraigned yesterday by the Economic and Financial Crimes Commission (EFCC) on a six-count money laundering charge.
This is following the recovery of $9.8 million and £74, 000 from his Kaduna residence.
Yakubu, who pleaded not guilty to the charges, had earlier claimed that the monies were gift he received from friends.
He was alleged to have, as “group managing director of NNPC, between 2012 and 2014, within the jurisdiction of this court, with intent to avoid lawful transaction, transported to Kaduna $9.7million and €74,000.’’
In ordering that he be remanded in prison, the judge rejected plea by Yakubu’s lawyer, Mr. Ahmed Raji (SAN), to rather remand his client in EFCC custody.
“Raji, when somebody’s plea is taken, the prosecution no longer has control over such defendant who has become a property of the court.
“It will be a negation of the Administration of Criminal Justice Act to allow the prosecution to still retain the defendant in its custody. God willing, the ruling will be delivered on the next adjourned date,” the judge ruled.