Court Grants Ex-Warri Refinery MD ₦500m Bail Over Alleged Money Laundering

• Former Warri Refinery Managing Director, Jimoh Yisawu, granted ₦500 million bail by the Federal High Court in Abuja.

• Ex-NNPCL subsidiary boss faces eight counts of alleged money laundering, including unlawful cash transactions totalling over $912,000.

• Court orders defendant to deposit international passport, provide Abuja-based surety, and remain in custody pending fulfilment of bail conditions.

The Federal High Court in Abuja on Monday granted ₦500 million bail to the former Managing Director of the Warri Refining and Petrochemical Company Limited (WRPC), Jimoh Yisawu, who is standing trial over alleged money laundering.

Yisawu, the sole defendant in charge number FHC/ABJ/CR/361/2026, pleaded not guilty to the eight-count charge after it was read before Justice Inyang Ekwo.

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The charges, filed by the Federal Government on June 22, 2026, allege violations of the Money Laundering (Prevention and Prohibition) Act, 2022.

According to the prosecution, led by Ekele Iheanacho (SAN), Yisawu allegedly converted more than $789,950, described as proceeds of unlawful activity, contrary to the provisions of the Act.

The government also alleged that he made cash payments exceeding $789,950 to one Samaila Bala without using a financial institution, as well as additional cash payments amounting to $122,600 through one Rasheed Olaitan Yusuf outside the banking system.

Following the defendant’s plea, the prosecution applied for a trial date, while defence counsel, Wale Balogun (SAN), urged the court to grant his client bail.

Balogun argued that Yisawu had earlier been granted administrative bail by investigators and had already surrendered his international passport.

However, the prosecution opposed the application, filing a counter-affidavit and urging the court to refuse bail.

In his ruling, Justice Ekwo held that the defendant was entitled to bail under the provisions of the Administration of Criminal Justice Act (ACJA), 2015.

The court granted bail in the sum of ₦500 million with one surety in like sum.

Justice Ekwo directed that the surety must be a responsible Nigerian who owns landed property in Abuja and must provide proof of ownership to the court registrar.

The judge also ordered Yisawu to deposit his international passport with the court and prohibited him from travelling outside Nigeria without prior court approval.

Pending the fulfilment of the bail conditions, the court ordered that the former refinery boss remain in the custody of the prosecution.

The matter was adjourned until October 25, 26 and 27, 2026, for commencement of trial.