Alleged $45m Fraud: El-Rufai’s Headaches Worsen As Court Denies Aide Bail, Sends Him Back To Detention Over Money Laundry Charges

The New Diplomat
Writer

Ad

Wike, Fubara Absent As Ibas Holds Farewell Thanksgiving Service

By Abiola Olawale Minister of the Federal Capital Territory (FCT), Nyesom Wike, and suspended Governor Siminalayi Fubara of Rivers State were absent from the inter-denominational thanksgiving service held on Sunday to mark the end of emergency rule. The event, organized by the Rivers State Government, served as a farewell for Sole Administrator Vice Admiral Ibok-Ete…

Oritsemeyin’s license revocation, a clear warning to oil operators – expert

By Obinna Uballa The Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) revocation of the Oritsemeyin drilling rig’s operating licence is a wake-up call to upstream operators to tighten compliance with safety and operational standards, according to oil and gas consultant Dr. Maurice Ibe. Ibe, Group Executive Chairman of Benham Group, said the decision underscored the regulator’s…

PIA: Tinubu moves to transfer concessionaire powers from NNPCL to NUPRC in major shakeup

...MOFI to take control of NNPCL shares By Obinna Uballa Nigeria’s oil and gas industry is set for another major shake-up as President Bola Tinubu has reportedly approved sweeping proposed amendments to the Petroleum Industry Act (PIA) 2021, transferring ownership and concessionaire powers away from the Nigerian National Petroleum Company Limited (NNPCL). In a notice…

Ad

By Kolawole Ojebisi

Ex-chief of Staff to former Governor of Kaduna State, Alhaji Bashir Sa’idu will spend more days in correctional facility, compounding former Governor Nasir el-Rufai’s headaches.

This is as a Kaduna High Court refused to approve for him even a momentary respite by granting him bail.

The court ordered that he be sent back to be remanded in Correctional Facility to allow the prosecution lawyer make certain decisions concerning the case.

When the case came up for mention on Tuesday before Justice Isa Aliyu, the 10 charges were read to the hearing of the defendant, who pleaded not guilty.

The charges among others alleged that, the former Commissioner sold $45million in hard currency belonging to the Kaduna State Government—equivalent to N18,450,000,000—at the significantly undervalued rate of N410 per dollar, instead of the parallel market rate of N498 per dollar, with criminal intent, resulting in a N3,960,000,000 loss to the government.

According to the prosecution, the offence allegedly took place in 2022, when Sa’idu served as Commissioner of Finance in El-Rufai’s administration.

The prosecution further alleged that the N3,960,000,000 discrepancy was laundered by Sa’idu, in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.

Counsel to the Defendant, M I Abubakar notified the court of a pending bail application, urging the court to grant his client, Alhaji Bashir Sa’idu bail, as he had already spent 21 days in custody since his arrest on 2nd January, 2025.

While noting that the bail application was filed before the court on the 16th January, he argued that granting Sa’idu bail would allow him adequate time and facilities to file his defence to the charges against him.

The Prosecution Counsel, Professor Nasiru Aliyu, however, raised an objection against the bail application, arguing that the law provides that the prosecution be allowed seven days to file its response to the bail application.

After about 40 minutes recess, Justice Aliyu ruled that the prosecution be given adequate time provided by the law to file its defence to the bail application.

He however adjourned the case till 23rd January, 2025 for hearing of the bail application.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp