The Economic and Financial Crimes Commission (EFCC) has arraigned Jimoh Olasunkanmi Yisawu, the former Managing Director of Warri Refining and Petrochemical Company, before a Federal High Court in Abuja. Yisawu faces an eight-count charge of money laundering involving approximately N1.34 billion, allegedly misappropriated between 2023 and 2025.

During his arraignment on Monday, July 20, 2026, Yisawu pleaded not guilty. Justice Inyang Ekwo granted him N500 million bail, requiring one surety with landed property within the court’s jurisdiction. The court also ordered the surrender of his international passport and restricted his travel. Yisawu will remain in EFCC custody until his bail conditions are fulfilled, with the trial set to commence in late October 2026.