The Kaduna State High Court has refused to grant bail to the former Chief of Staff to Malam Nasiru el-Rufai, the immediate-past Governor of Kaduna State, Alhaji Muhammad Sa’idu in the alleged money laundering case filed against him.
The Court had adjourned the ruling on a bail application for Sa’idu till Thursday 16th January, 2025. However, when the case came up on Thursday, the former Chief of Staff was denied bail.
Delivering ruling on the application, the court refused the bail principally on the ground that a formal charge had been filed at the Kaduna State High Court II against Sa’idu.
The Court asked the applicant to go to the court where the charge is filed and pending, to apply for bail.
Director of Public Prosecution, Samson Irimiya, Esq. who represented the state government in court told Journalists that the arraignment of the former Chief of Staff is coming up before Justice Isa Aliyu on 21st January, 2025.
Irimiya said, the bail refusal was “principally on the ground that since a formal charge had been filed by us, it is better that the Applicant goes to the court where the charge is filed and pending to apply for bail.”
Counsel to Sai’du, Oladipo Tolani, SAN, also confirmed that the Court directed that they should take the bail application to the court where the proper charges have been filed.
Sa’idu who also served as a Commissioner of Finance under the administration of Mallam el-Rufai was initially dragged before the State High Court for money laundering.
A security source had disclosed to journalists that, “The former Chief of Staff sold 45 million US dollars in hard currency belonging to the Kaduna State Government, equivalent to N18.4 billion at the significantly undervalued rate of N410 per dollar.”
This was at variance with the parallel market rate of N498 per dollar with which the defendant is being accused of criminal intent, resulting in a N3.9 billion loss to the government in 2022.
The prosecution further alleged that the N3.9 billion discrepancy was laundered by Sa’idu, in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
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