A Federal High Court in Abuja has granted ₦500 million bail to the former Managing Director of the Warri Refining and Petrochemical Company Limited (WRPC), Jimoh Yisawu, who is facing trial over alleged money laundering offences. Justice Inyang Ekwo approved the bail application after Yisawu pleaded not guilty to an eight-count charge brought against him by the Federal Government.
The prosecution alleged that Yisawu violated provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, including the alleged conversion of more than $789,950 believed to be proceeds of unlawful activity. He is also accused of making substantial cash payments outside the formal banking system, contrary to Nigeria’s anti-money laundering laws.
In his ruling, Justice Ekwo ordered that the former refinery boss provide one surety in like sum, with the surety required to be a responsible Nigerian who owns landed property in Abuja. The court also directed Yisawu to deposit his international passport with the court and prohibited him from travelling outside Nigeria without prior judicial approval.
Although the defence argued that Yisawu had previously complied with the conditions of an administrative bail granted during the investigation, the prosecution opposed the bail request, citing the seriousness of the allegations. After considering submissions from both parties, the court ruled that the defendant was entitled to bail under the Administration of Criminal Justice Act, 2015.
Pending the fulfilment of the bail conditions, the court ordered that Yisawu remain in the custody of the prosecution. The case has been adjourned to October 26–28, 2026, when trial proceedings are expected to commence.
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