A Kaduna high court has denied bail to the former Chief of Staff to ex-Governor Nasiru El-Rufai Alhaji Muhammadu Bashir Saidu in a money laundering case filed against him ICPC. The case which resume for hearing on Thursday, the court refused the bail application, citing the fact that a formal charge had already been filed against Saidu at Kaduna State High Court II.
The judge however directed the applicant to apply for bail at the court where the charges are pending. Kaduna State Director of Public Prosecution, Samson Irimiya, Esq. who represented the state government informed journalists that the arraignment of Saidu is scheduled for January 21, 2025, before Hon. Justice Isa Aliyu.
Counsel to Bashir Saidu, Oladipo Tolani, SAN, also confirmed the directive to transfer the bail application to the appropriate court. Saidu, who was Kaduna State Commissioner of Finance and a former chief of staff the governor elrufia, is facing allegations of money laundering.
Prosecutors allege that Saidu sold $45 million in hard currency belonging to the Kaduna State Government, valued at ₦18.4 billion, at the undervalued rate of ₦410 per dollar instead of the parallel market rate of ₦498 per dollar. The alleged act, committed in 2022, resulted in a loss of ₦3.9 billion to the state government. The prosecution claims the ₦3.9 billion discrepancy was laundered by Saidu, in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022
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