Alleged Money Laundering: Court denies former ex-governor El-Rufai’s aide, Saidu bail

A former Chief of Staff to ex-governor Nasiru El-Rufai, Alhaji Muhammadu Bashir Saidu, has been denied bail by a High Court in Kaduna State in a money laundering case filed against him.

The court refused the bail application when the case was heard on Thursday.

It cited the fact that a formal charge had already been filed against Saidu at Kaduna State High Court II.

The judge directed the applicant to apply for bail at the court where the charges are pending.

Kaduna State Director of Public Prosecution, Samson Irimiya, Esq., representing the state government, informed newsmen that the arraignment of Saidu is scheduled for January 21, 2025, before Justice Isa Aliyu.

According to Irimiya, “The bail application was refused primarily because a formal charge had been filed.

“It is appropriate for the applicant to seek bail at the court where the charge is pending.”

Oladipo Tolani, SAN, Counsel to Bashir Saidu, also confirmed the directive to transfer the bail application to the appropriate court.

Saidu, who served as Kaduna State Commissioner of Finance, is also facing allegations of money laundering.

Saidu is alleged to have sold $45 million in hard currency belonging to the Kaduna State Government, valued at N18.4 billion, at the undervalued rate of N410 per dollar instead of the parallel market rate of N498 per dollar.

The alleged act was committed in 2022 that resulted in a loss of N3.9 billion to the state government.

The N3.9 billion discrepancy, the prosecution claimed, was laundered by Saidu, in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.