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

OPEC Rejects Media Reports of Major Output Hike Ahead of G8 Meet

OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike crude oil production by half a million barrels per day. In a statement from Vienna on Tuesday, the OPEC Secretariat called the claims “wholly inaccurate and misleading,” stressing that discussions among ministers for the upcoming meeting haven’t…

Ranked: Countries Losing the Most (and Least) from Trump’s Tariffs

Trump’s tariffs are hitting all of America’s major trading partners. But in U.S. trade, what matters isn’t just the tariffs a country faces—it’s how they stack up against competitors. This visualization, made with the Hinrich Foundation, shows which countries are losing the most, and the least, from Trump’s tariffs. The data seen here is sourced from…

Emergency in Rivers: Romancing impunity?, By Ebun Olu-Adegboruwa 

By Ebun-Olu Adegboruwa, SAN “I urge every Nigerian home and abroad to try and live within the confines of the law of the land and the Constitution of the Federal Republic of Nigeria. If we are able to do just that, we will be sure of ensuring that peace and unity reign in the country.…

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