The Economic and Financial Crimes Commission (EFCC) has arraigned former Managing Director of the Warri Refining and Petrochemical Company Ltd, Jimoh Yisawu, on allegations of money laundering.
Yisawu was brought before the Federal High Court in Abuja on an eight-count charge linked to his time as Managing Director of the refinery and a former official of the Nigerian National Petroleum Company Limited (NNPCL). He pleaded not guilty to all charges.
The court granted him bail of ₦500 million with one surety in like sum. Justice Inyang Ekwo also directed him to deposit his international passport with the court and obtain permission before travelling outside the court’s jurisdiction. He will remain in EFCC custody until the bail conditions are met.
According to the EFCC, the case involves allegations of laundering public funds and using part of the money to purchase treasury bills. The matter has been adjourned to October 25, 26 and 27 for the commencement of trial.
The charges are allegations, and the defendant is presumed innocent unless proven guilty by the court.
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