Court grants ex-Warri refinery MD ₦500m bail
Justice Inyang Ekwo ordered one surety and passport surrender as Yisawu denied eight money-laundering counts involving more than $789,950.
- On Monday, the Federal High Court in Abuja granted bail of ₦500 million to former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, who stands trial on an eight-count money laundering charge.
- The Federal Government filed the eight-count charge against Yisawu on June 22, 2026, alleging money laundering offenses under the Prevention and Prohibition Act. Yisawu pleaded not guilty to all counts.
- Prosecutors alleged Yisawu "indirectly converted the aggregate sum of over $789,950" as proceeds of unlawful activity and made cash payments totaling $122,600 through Rasheed Olaitan Yusuf outside the banking system.
- Justice Ekwo ordered Yisawu to provide a surety with landed property in Abuja and deposit his international passport, barring travel outside Nigeria. He remains in prosecution custody pending bail perfection.
- The court adjourned the case for trial on October 25, 26, and 27, 2026. Defense counsel Wale Balogun argued for bail while prosecution counsel Ekele Iheanacho unsuccessfully opposed the application.
26 Articles
26 Articles
‘Money laundering’: Ex-Warri Refinery MD arraigned, gets...
A former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, was on Monday arraigned before the Federal High Court in Abuja over alleged money laundering. Yisawu, who is standing trial on an eight-count charge, was subsequently granted bail in the sum of N500 million. Daily Trust reports that Yisawu, the sole defendant in the suit marked FHC/ABJ/CR/361/2026, pleaded not guilty to all eight counts after they w…
Alleged Money Laundering: Court Grants Ex-Warri Refinery MD Yisawu ₦500m Bail
Justice Inyang Ekwo of the Federal High Court, Abuja, has granted bail to the former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, in the sum of ₦500m.Yisawu is standing trial on an eight-count charge bordering on alleged money laundering.He pleaded not guilty to all eight counts after they were read to him. The charge, dated and filed on June 22, 2026, was brought by the Federal Government.The prosecut…
Punch Newspapers
Court grants ex-Warri refinery MD ₦500m bail
Former Warri Refinery MD, Jimoh Yisawu, granted ₦500m bail by Abuja Federal High Court in ongoing money laundering trial. Read details of the charges. Read More: https://punchng.com/court-grants-ex-warri-refinery-md-%e2%82%a6500m-bail/
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