A Federal High Court in Abuja granted Jimoh Yisawu, former managing director of Warri Refining and Petrochemical Company Limited, N500m bail after he was charged with money laundering by the Economic and Financial Crimes Commission (EFCC).Yisawu pleaded not guilty to eight counts of laundering public funds and using proceeds to purchase treasury bills for personal gain.

The court ruled the offences were bailable, requiring a surety of N500m and a responsible Nigerian with landed property within the court's jurisdiction.Yisawu must deposit his passport and cannot travel without approval.He remains in EFCC custody pending bail conditions.The trial starts in October, with EFCC set to present evidence.The case highlights legal battles over financial crimes in Nigeria's energy sector.