A former Managing Director of the Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, was arraigned before the Federal High Court in Abuja on Monday over alleged money laundering charges.

He was granted N500 million bail after pleading not guilty to eight counts, including converting proceeds of unlawful activity and making cash payments without using financial institutions.The case, marked FHC/ABJ/CR/361/2026, involves allegations under the Money Laundering (Prevention and Prohibition) Act, 2022.

Prosecutors claimed Yisawu indirectly converted over $789,950 in illegal funds and made cash transactions exceeding this amount to individuals like Samaila Bala and Rasheed Olaitan Yusuf outside the banking system.The judge approved bail with one surety and adjourned the trial until October 25-27, 2026.The case highlights ongoing legal battles against financial crimes in Nigeria's corporate sector.