Court charges former NNPC head with money laundering

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The former head of Nigeria’s state oil company was charged in court on Thursday with money laundering and five counts of fraud, Nasdaq reports.

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.