Ex-Warri Refinery MD Yisawu Docked, Granted ₦500m Bail

• A Federal High Court in Abuja arraigned former Warri Refinery Managing Director, Jimoh Yisawu, on an eight-count charge of alleged money laundering before granting him ₦500 million bail.

• The EFCC accused Yisawu of illegally converting and making cash transactions involving $912,550 between October 2023 and May 2025 in violation of the Money Laundering Act.

• Justice Inyang Ekwo ordered the defendant to provide a surety with landed property within the court’s jurisdiction, surrender his travel documents, and remain in custody until the bail conditions are met.

• Yisawu pleaded not guilty to all eight counts, while the court ordered him to remain in the custody of the EFCC pending the perfection of his bail conditions and adjourned the matter for the commencement of trial.

July 20 , () — The immediate past Managing Director of the Warri Refining and Petrochemical Company (WRPC), Jimoh Yisawu, has been arraigned before the Federal High Court in Abuja by the Economic and Financial Crimes Commission (EFCC) on an eight-count charge bordering on alleged money laundering and was subsequently granted bail for ₦500 million.

Yisawu, who appeared on Monday before Justice Inyang Ekwo, pleaded not guilty to all eight counts after they were read to him.

According to the EFCC, the former refinery boss allegedly carried out a series of financial transactions in violation of the provisions of the Money Laundering (Prevention and Prohibition) Act.

The anti-graft agency alleged in the first count that between October 2023 and May 2025, Yisawu indirectly converted $789,950.

In the second count, the EFCC accused him of making cash payments totalling $789,950 without routing the transactions through a financial institution, contrary to the provisions of the Money Laundering Act.

The commission further alleged in the third count that between February 2024 and March 2025, the former WRPC managing director indirectly converted an additional $122,600, bringing the total amount referenced in the first three counts to $912,550.

Following the defendant’s plea, counsel to the EFCC urged the court to fix a date for the commencement of the trial.

Defence counsel informed the court that a bail application had already been filed on behalf of the defendant, noting that Yisawu had been on administrative bail granted by the EFCC since March 25, 2025.

The lawyer urged the court to admit his client to bail pending the determination of the case.

Court Imposes Stringent Bail Conditions

In a ruling, Justice Ekwo granted Yisawu bail for ₦500 million with one surety in like sum.

The court ordered that the surety must own landed property within the jurisdiction of the court, with the property’s title documents to be verified by the court registrar.

Justice Ekwo also directed Yisawu to deposit all his travel documents with the court and barred him from travelling outside the court’s jurisdiction without prior approval.

Pending the perfection of the bail conditions, the court ordered that the former Warri Refining and Petrochemical Company managing director should remain in the custody of the EFCC.

The case was thereafter adjourned for the commencement of trial, during which the EFCC is expected to present evidence in support of the charges against the defendant.