Court grants Ex-Warri Refinery MD Yisawu ₦500m bail in $789,950 money laundering case

The Federal High Court successful Abuja connected Monday granted bail successful the sum of ₦500 cardinal to the erstwhile Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, who is lasting proceedings connected an eight-count complaint bordering connected alleged wealth laundering.

Yisawu, who is the sole suspect successful the complaint marked  FHC/ABJ/CR/361/2026, pleaded not blameworthy to each 8 counts aft they were work to him earlier Justice Inyang Ekwo.

The charge, dated and filed connected June 22, 2026, was brought against him by the Federal Government.

The prosecution, led by Ekele Iheanacho (SAN), told the tribunal that the suspect allegedly committed offences contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.

In the archetypal count, the Federal Government alleged that Yisawu “indirectly converted the aggregate sum of implicit $789,950… being proceeds of unlawful activity,” contrary to Section 18(2)(b) and punishable nether Section 18(3) of the Act.

In the 2nd count, the prosecution alleged that helium made currency payments exceeding $789,950 to 1 Samaila Bala without utilizing a fiscal institution, contrary to the provisions of the anti-money laundering law.

In the 4th count, the authorities further alleged that Yisawu made currency payments totalling $122,600 done 1 Rasheed Olaitan Yusuf extracurricular the banking strategy and owed process, successful usurpation of the anti-money ...