The Kaduna State High Court II, on Tuesday, denied bail to Bashir Sa’idu, a former Chief of Staff to ex-Governor Nasir El-Rufai, in an ongoing money laundering case.
Sa’idu, arraigned on a 10-count charge by the Kaduna State government, faces allegations of embezzlement, money laundering, and theft. The charges, read before Justice Isa Aliyu, accuse him of criminally mismanaging state funds during his tenure as Commissioner for Finance and Local Government.
Notably, one charge alleges Sa’idu sold $45 million of Kaduna State’s foreign currency holdings at a deliberately undervalued exchange rate, causing a ₦3.96 billion loss. These acts are purportedly in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
The accused, who pleaded not guilty, sought bail through his counsel, M. I. Abubakar, citing the need to prepare adequately for his defense after spending 21 days in custody since his January 2 arrest. However, the prosecuting counsel, Nasiru Aliyu, opposed the request, arguing for sufficient time to file a response.
Justice Isa Aliyu upheld the prosecution’s argument, remanding Sa’idu to the Kaduna Correctional Centre and adjourning the case to January 23, 2025, for a bail hearing.
Sa’idu, a prominent figure in the El-Rufai administration (2015-2023), also faces related charges brought by the Independent Corrupt Practices Commission (ICPC) at the Federal High Court in Kaduna.
This high-profile case continues to draw public attention as the judiciary confronts allegations of large-scale financial misconduct.
