Abuja Court Grants 500m Naira Bail to Ex-Warri Refinery MD

A Federal High Court in Abuja has granted bail to Jimoh Yisawu, the former Managing Director of the Warri Refining and Petrochemical Company Limited, on Monday, July 20, 2026. Justice Inyang Ekwo admitted Yisawu to bail in the sum of 500 million naira with one surety in the same amount, following his not-guilty plea to an eight-count money laundering charge filed by the Economic and Financial Crimes Commission.

Yisawu was arraigned on charges alleging he converted proceeds of unlawful activities, made cash payments outside financial institutions, received funds from contractors connected to the Nigerian National Petroleum Company Limited, and used part of the disputed funds to purchase treasury bills. The charges, dated and filed on June 22, 2026, are brought under the Money Laundering Prevention and Prohibition Act of 2022.

After the charges were read, Yisawu pleaded not guilty to all counts. Prosecuting counsel Ekele Iheanacho requested trial dates, while defence counsel Wale Balogun moved for bail. Iheanacho opposed the application, informing the court the prosecution had filed a counter-affidavit urging the court to refuse bail. Balogun argued that his client had cooperated...