The Federal High Court in Abuja granted bail to Jimoh Yisawu, former Managing Director of Warri Refining and Petrochemical Company, in the amount of ₦500 million.Yisawu was arraigned by the Economic and Financial Crimes Commission (EFCC) on eight counts of alleged money laundering.

The EFCC alleged that between October 2023 and May 2025, Yisawu indirectly converted $789,950, violating the Money Laundering (Prevention and Prohibition) Act.

Another count accused him of making cash payments totaling $789,950 without using a financial institution, and converting another $122,600 between February 2024 and March 2025.Yisawu pleaded not guilty to all charges.

The court ordered him to deposit international travel documents, restrict travel outside the court’s jurisdiction, and remain in EFCC custody until bail conditions are met.His lawyer argued for bail pending trial, which the court granted with a surety of ₦500 million and landed property verification.The case highlights ongoing legal battles over financial crimes in Nigeria.