By Achadu Gabriel, Kaduna
Alhaji Muhammad Bashir Sa’idu, the former Chief of Staff to Malam Nasiru El-Rufai, ex-Governor of Kaduna State, is set to remain in prison custody after a Kaduna State High Court denied his bail application in a money laundering case.
Bail Application Denied
The court had earlier adjourned ruling on Sa’idu’s bail application to January 16, 2025. However, during Thursday’s hearing, the court declined the bail request. The ruling was based on the fact that a formal charge had already been filed against Sa’idu at the Kaduna State High Court II.
In its decision, the court advised Sa’idu to seek bail from the court where the charges are formally pending.
Kaduna State Director of Public Prosecution, Samson Irimiya, stated that the former Chief of Staff’s arraignment is scheduled for January 21, 2025, before Justice Isa Aliyu. Irimiya clarified that the refusal of bail was procedural, as the proper venue for such an application would be the court handling the substantive case.
Background of the Case
Sa’idu, a former Commissioner of Finance in Kaduna State, is facing allegations of money laundering. A security source alleged that in 2022, Sa’idu sold $45 million in state-owned hard currency, valued at ₦18.4 billion, at an undervalued exchange rate of ₦410 per dollar instead of the parallel market rate of ₦498 per dollar.
This transaction allegedly caused a ₦3.9 billion loss to the Kaduna State Government. It is further alleged that the ₦3.9 billion discrepancy was laundered by Sa’idu, violating Section 18 of the *Money Laundering (Prevention and Prohibition) Act, 2022*.
Legal Perspectives
Counsel for Sa’idu, Oladipo Tolani SAN, acknowledged the court’s directive to file a new bail application at the appropriate court where the charges are pending.
The case has drawn significant attention due to the scale of the alleged fraud and its implications for public accountability.
Next Steps
Sa’idu’s arraignment on January 21, 2025, is expected to shed more light on the allegations against him and provide a platform for the prosecution to present its evidence.
The case highlights the government’s ongoing efforts to address financial crimes and promote transparency in public office.
