Kehinde Fajobi
The Kaduna State High Court has adjourned the hearing of a bail application filed by Bashir Sa’idu, a former chief of staff and finance commissioner under ex-Governor Nasir El-Rufai, to Thursday, January 23, 2025.
Sa’idu is facing a 10-count charge brought by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for alleged money laundering, embezzlement, and theft.
According to the ICPC, Sa’idu sold $45 million in hard currency belonging to the Kaduna State Government—equivalent to ₦18.45 billion—at a rate of ₦410 per dollar instead of the parallel market rate of ₦498 per dollar, causing a ₦3.96 billion loss to the state.
The commission alleged that the ₦3.96 billion discrepancy was laundered, in violation of Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
Sa’idu has pleaded not guilty to all charges.
At Tuesday’s hearing, Sa’idu’s counsel, M.I. Abubakar, requested bail for his client, citing his 21 days in custody since his arrest on January 2, 2025.
However, prosecution counsel Prof. Nasiru Aliyu opposed the application, stating that the law allows the prosecution seven days to file a response.
Presiding over the matter, Justice Isa Aliyu ruled in favour of allowing the prosecution time to respond to the bail application and adjourned the hearing to Thursday.