Ex-Warri Refinery Boss Secures ₦500M Bail Ahead of Money Laundering Trial
A Federal High Court in Abuja has granted bail to Jimoh Yisawu, the former Managing Director of Warri Refining and Petrochemical Company, in the sum of ₦500 million. Justice Inyang Ekwo ordered Yisawu to produce one surety of equal value after his arraignment by the Economic and Financial Crimes Commission on eight counts of alleged money laundering. The EFCC alleges he indirectly converted $789,950 between October 2023 and May 2025 and another $122,600 between February 2024 and March 2025 without routing the transactions through a financial institution. The court ruled that the surety must own landed property within its jurisdiction, and the court registrar must verify the title before Yisawu’s release. He must also surrender his travel documents and stay within the court’s jurisdiction until all bail conditions are met.
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