The Federal High Court in Abuja on Thursday remanded a former Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Andrew Yakubu, in Kuje Prison pending when ruling on his bail application would be delivered on March 21.
The charges against him border on fraud and false declaration of assets.
Some operatives of EFCC had stormed a house belonging to the former NNPC boss and recovered the sum of $9.7m and £74,000 stashed in a huge fireproof safe in a slum in Kaduna.
The sums of the foreign currencies amounted to about N3bn.
Yakubu was driven away from the court premises by prison officials around 3.30pm yesterday.