A federal high court in Abuja has ordered the remand of Andrew Yakubu, former group managing director of the Nigerian National Petroleum Corporation (NNPC), in Kuje prison.
Ahmed Mohammed, a judge, gave the order after the Economic and Financial Crimes Commission (EFCC) arraigned Yakubu on a six-count charge of fraud.
This followed 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.
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