Ex-Warri Refinery MD Jimoh Yisawu Granted N500m Bail

Jimoh Yisawu, the former Managing Director of Warri Refinery and Petrochemical Company Limited, was arraigned at the Federal High Court in Abuja on June 22, 2026, facing eight counts of money laundering. The charges were brought by the Federal Government, with Ekel Iheanacho, SAN, serving as the lead prosecuting counsel.

The allegations include the indirect conversion of an aggregate sum of N789,950 from unlawful activities, as well as making cash payments exceeding this amount without using a financial institution, which violates the Money Laundering (Prevention and Prohibition) Act of 2022. Yisawu pleaded not guilty to all charges.

Following his plea, his defense counsel, Wale Balogun, SAN, applied for bail, which Justice Inyang Ekwo granted at N500 million, requiring sureties. The case has been adjourned until October 25, 26, and 27, 2026, for trial.