The Federal High Court in Abuja on Monday granted bail of ₦500m to the former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, who is standing trial on an eight-count charge bordering on alleged money laundering.
Yisawu, who is the sole defendant in Charge no. FHC/ABJ/CR/361/2026, pleaded not guilty to all eight counts after they were read to him before Justice Inyang Ekwo.
The charge, dated and filed on June 22, 2026, was brought by the Federal Government.
The prosecution, led by Ekele Iheanacho (SAN), told the court that the defendant allegedly committed offences contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
In the first count, the Federal Government alleged that Yisawu “indirectly converted the aggregate sum of over $789,950… being proceeds of unlawful activity,” contrary to Section 18(2)(b) and punishable under Section 18(3) of the Act.
