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Muhammad Sa’idu, the former Chief of Staff to ex-Kaduna State Governor Nasiru El-Rufai, will remain in prison custody after a state high court declined his bail application in an ongoing money laundering case.
The court had previously postponed its decision on the bail plea to January 16, 2025.
On Thursday, the presiding judge denied bail, citing the filing of formal charges against Sa’idu at the Kaduna State High Court II. The court directed the defendant to seek bail from the court handling the case.
Kaduna State’s Director of Public Prosecution, Samson Irimiya, confirmed the development, announcing that Sa’idu’s arraignment is scheduled for January 21, 2025, before Justice Isa Aliyu.
“The bail application was refused primarily because a formal charge has been filed. It is appropriate for the defendant to seek bail from the court where the case is pending,” Irimiya explained.
Sa’idu’s lawyer, Oladipo Tolani (SAN), acknowledged the directive, stating that they would file a bail application in the appropriate court.
The former Commissioner of Finance faces allegations of selling $45 million in state-owned funds—valued at N18.4 billion—at a significantly undervalued rate of N410 per dollar instead of the parallel market rate of N498. This alleged transaction, carried out in 2022, reportedly caused the state a loss of N3.9 billion.
Prosecutors accuse Sa’idu of laundering the N3.9 billion in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
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