Court Denies Bail to Ex-Chief of Staff in Kaduna Money Laundering Case
A High Court in Kaduna State has refused to grant bail to Alhaji Muhammadu Bashir Saidu, a former Chief of Staff to ex-Governor Nasiru El-Rufai, who is facing serious money laundering charges.
The court made the decision during the hearing on Thursday, citing that a formal charge had already been filed against Saidu at the Kaduna State High Court II. The judge advised the defendant to file for bail at the court where the charges are currently pending.
The Kaduna State Director of Public Prosecution, Samson Irimiya, confirmed that Saidu’s arraignment is scheduled for January 21, 2025, before Justice Isa Aliyu. Irimiya explained that the bail application was rejected because it was more appropriate for Saidu to apply for bail at the court where the charge is officially pending.
Saidu’s defense attorney, Oladipo Tolani, SAN, confirmed the court’s directive to transfer the bail application to the appropriate court.
Allegations of Money Laundering and Loss to Kaduna State
Saidu, who previously served as the Commissioner of Finance in Kaduna State, is accused of a money laundering scheme that involves the sale of $45 million in state funds. The currency, valued at N18.4 billion, was allegedly sold at an undervalued rate of N410 per dollar, instead of the parallel market rate of N498 per dollar, resulting in a loss of N3.9 billion for the state government.
The prosecution claims that the N3.9 billion discrepancy was laundered by Saidu in violation of the Money Laundering (Prevention and Prohibition) Act, 2022, specifically Section 18 of the Act.
