The Federal High Court in Abuja has granted bail of ₦500 million to former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, who is facing trial on an eight-count charge of alleged money laundering.
Yisawu, the sole defendant in case number FHC/ABJ/CR/361/2026, pleaded not guilty to all charges when they were read before Justice Inyang Ekwo on Monday.
The Federal Government, represented by prosecution counsel Ekele Iheanacho (SAN), accused Yisawu of offences under the Money Laundering (Prevention and Prohibition) Act, 2022.
The charges include allegedly converting over $789,950 in proceeds of unlawful activity and making cash payments outside the banking system, including transactions totalling $122,600.
Following his plea, Iheanacho requested a trial date, while defence counsel Wale Balogun (SAN) applied for bail, arguing that Yisawu had already been granted administrative bail and his passport seized.
Justice Ekwo ruled that the defendant was entitled to bail under Section 162 of the Administration
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