RismadarVoice Reporters, July 20, 2026
The Federal High Court sitting in Abuja has granted bail to the immediate past Managing Director of the Warri Refining and Petrochemical Company, Jimoh Olasunkanmi Yisawu, for ₦500 million following his arraignment on an eight-count charge of alleged money laundering and diversion of refinery rehabilitation funds.
Yisawu was arraigned before Justice Inyang Ekwo on Monday by the Federal Government. The prosecution alleged that the former refinery boss laundered funds and diverted money earmarked for the rehabilitation of the Warri Refinery. When the charges were read, the defendant pleaded not guilty to all eight counts.
Following his plea, defence counsel, Wale Balogun, SAN, moved a bail application dated July 7, 2026, praying the court to admit his client to bail pending trial. The application was opposed by the prosecution counsel, Iheanacho Ekele, SAN, through a counter-affidavit.
In his ruling, Justice Ekwo held that under Section 165 of the Administration of Criminal Justice Act (ACJA), the court has the discretion to grant bail in appropriate cases.
The judge consequently admitted Yisawu to bail in the sum of ₦500 million with one surety in like sum. The surety must be a resident within the court’s jurisdiction, own landed property acceptable to the court, and submit the relevant title documents to the court registrar for verification.
Justice Ekwo further ordered the defendant to deposit his international passport with the court and ruled that he must not travel outside Nigeria without the court’s permission.
The case was adjourned to October 26, 27 and 28, 2026, for the commencement of trial.
