The Kaduna State High Court has denied bail to Alhaji Muhammad Bashir Sa’idu, the former Chief of Staff to Malam Nasiru El-Rufai, the immediate past Governor of Kaduna State, in the ongoing money laundering case filed against him.
The court had previously adjourned its ruling on Sa’idu’s bail application until Thursday, January 16, 2025.
When the case resumed on Thursday, the court denied bail, citing that a formal charge had already been filed against him at the Kaduna State High Court II.
The court directed Sa’idu to apply for bail at the court where the charge is pending.
Samson Irimiya, Esq., the Kaduna State Director of Public Prosecution, who represented the state government, confirmed to journalists that Sa’idu’s arraignment is scheduled for January 21, 2025, before Hon Justice Isa Aliyu.
According to Irimiya, “The bail application ruling was delivered refusing the bail application principally on the ground that since a formal charge had been filed by us, it is better that the Applicant goes to the court where the charge is filed and pending to apply for bail.”
Counsel to Sai’du, Oladipo Tolani SAN also confirmed that the Court directed that, they should take the bail application to the court where the proper charges have been filed.
Sa’idu also a former Commissioner of Finance was initially dragged to the State High Court for money laundering.
A security source had disclosed to journalists: “The former Chief of Staff sold 45 million US dollars in hard currency belonging to the Kaduna State Government, equivalent to N18.4 billion at the significantly undervalued rate of N410 per dollar. This was instead of the parallel market rate of N498 per dollar, with criminal intent, resulting in a N3.9 billion loss to the government in 2022.”
The prosecution further alleged that the N3.9 billion discrepancy was laundered by Sa’idu, in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
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