The Federal High Court in Abuja grants bail to former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, in connection with an ongoing money laundering trial. Multiple reports say the court awards bail in the amount of ₦500 million on Monday in case number FHC/ABJ/CR/361/2026. Yisawu, described as the sole defendant, faces an eight-count charge under Nigeria’s Money Laundering (Prevention and Prohibition) Act, 2022. Sources state that he pleads not guilty to all charges when they are read before Justice Inyang Ekwo.
The prosecution, led by counsel Ekele Iheanacho (SAN), alleges that the charges involve converting proceeds of unlawful activity, including amounts described as over $789,950, and making cash payments outside the banking system, including transactions totalling $122,600. Defence counsel Wale Balogun (SAN) requests bail, arguing among other points that Yisawu had previously been granted administrative bail and that his passport has been seized.
The court orders Yisawu to meet bail conditions, including depositing his international passport with the court and restricting him from travelling abroad without permission. The case is adjourned for trial to dates in October 2026.
