A Federal high court in Kaduna State has rejected a bail request from Bashir Saidu, who served as chief of staff and Finance Commissioner under former Governor Nasir El-Rufai.
Police arrested Saidu on January 2nd, 2025, moving him to the Kaduna correctional centre. He faces 10 charges of money laundering, embezzlement, and stealing public funds from the Kaduna State Government.
According to Channels TV report, when Saidu appeared before Justice Isa Aliyu on Tuesday, he denied all charges. The prosecution claims Saidu sold $45 million of state funds at N410 per dollar instead of the market rate of N498, causing the government to lose N3.9 billion. They say this happened in 2022 while he managed Kaduna’s finances under El-Rufai. Prosecutors argue Saidu laundered this N3.9 billion difference, breaking Section 18 of the Money Laundering Act 2022.
Saidu’s lawyer, M I Abubakar, pressed for bail, noting his client had spent 21 days in custody. But prosecutor Professor Nasiru Aliyu fought back, saying the law gives prosecutors seven days to answer bail requests.
Justice Aliyu agreed with the prosecution, granting them time to respond. The court will hear the bail application on January 23rd, 2025.