Money Laundering: Ex-Chief of Staff to El-Rufai Denied Bail

• Alhaji Muhammad Bashir Sa’idu, ex-Chief of Staff to El-Rufai, denied bail as court adjourns ruling on money laundering charges
• Sa’idu allegedly sold $45 million in state funds at an undervalued rate, causing a financial loss of ₦3.9 billion

Alhaji Muhammad Bashir Sa’idu, former Chief of Staff to ex-Kaduna State Governor Nasiru El-Rufai, has not been granted bail following his arraignment over alleged money laundering charges.

The Kaduna State High Court has adjourned the ruling on his bail application until January 16, 2025. Sa’idu was arrested on December 30, 2024, along the Kaduna-Zaria highway and remanded at the Kaduna Correctional Centre after being arraigned at the Chief Magistrates’ Court in Rigasa.

A security source claimed that in a confessional statement, Sa’idu implicated El-Rufai, alleging that he sold $45 million belonging to the Kaduna State Government at an undervalued rate of ₦410 per dollar instead of the parallel market rate of ₦498 per dollar.

The alleged transaction reportedly caused the state a financial loss of ₦3.9 billion in 2022.

The prosecution accused Sa’idu of laundering the discrepancy amount, violating Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.

However, Sa’idu’s counsel, Oladipo Tolani (SAN), dismissed the allegations as unfounded.

“Bashir Saidu has been in detention since January 2, 2025, following his arrest along the Kaduna-Zaria highway in Igabi Local Government Area. We filed a bail application, which was heard yesterday.

The state government has also filed charges against him, and the court has adjourned for a ruling on January 16, 2025,” Tolani stated.

Responding to claims that Sa’idu provided evidence implicating his former principal, Tolani denied the reports. “There was no evidence given or testimony presented by any chief security officer. That is false information,” he added.