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Alleged $789,950 Fraud: Court Slams ₦500m Bail on Former Warri Refinery MD

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Economic and Financial Crimes Commission, EFCC,

A former Managing Director of the Warri Refining and Petrochemical Company Limited (WRPC), Jimoh Yisawu, has been granted bail in the sum of ₦500 million by the Federal High Court in Abuja after pleading not guilty to an eight-count charge of alleged money laundering filed against him by the Economic and Financial Crimes Commission (EFCC).

Yisawu was arraigned on Monday before Justice Inyang Ekwo in a case marked FHC/ABJ/CR/361/2026, over allegations that he violated the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

SEE MORE: EFCC Files Fraud Charges Against Ex-MDs of Warri, PH Refineries

According to the EFCC, the former refinery boss allegedly indirectly converted more than $789,950, said to be proceeds of unlawful activity, in contravention of Section 18(2)(b) of the Act and punishable under Section 18(3).

The anti-graft agency further alleged that Yisawu made cash payments exceeding $789,950 to one Samaila Bala without using any financial institution, contrary to Nigeria’s anti-money laundering laws.

The commission also accused him of making additional cash payments totalling $122,600 through one Rasheed Olaitan Yusuf, also without routing the transactions through a financial institution.

The defendant, however, pleaded not guilty to all eight counts when they were read to him in court.

Following his plea, defence counsel Wale Balogun (SAN) urged the court to grant his client bail, noting that the EFCC had earlier released him on administrative bail after seizing his international passport.

Balogun appealed to the court to maintain the same bail conditions, arguing that his client needed to prepare adequately for his defence while out on bail.

However, prosecution counsel Ekele Iheanacho (SAN) opposed the application, urging the court to consider the EFCC’s counter-affidavit challenging the defendant’s request for bail.

In his ruling, Justice Ekwo held that the offences contained in the charge were bailable and ruled that Yisawu was entitled to bail.

Relying on Section 162 of the Administration of Criminal Justice Act (ACJA), 2015, the judge granted the former WRPC boss bail in the sum of ₦500 million, with one surety in like sum.

The court ordered that the surety must be a responsible Nigerian with landed property in Abuja and must provide proof of ownership of the property.

Justice Ekwo also directed Yisawu to surrender his international passport and barred him from travelling outside Nigeria without prior approval from the court.

Pending the fulfilment of the bail conditions, the judge ordered that the former refinery chief remain in the custody of the EFCC.

The matter was subsequently adjourned to October 25, 26 and 27, 2026, for the commencement of trial.

Crime

Oyo Police Arrest Suspected Cultist Who Allegedly Travelled to Avenge Brother’s Death

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The Oyo State Police Command has arrested a suspected cultist, Kingsley Odo, who allegedly travelled to the state to avenge the death of his brother.

The suspect was intercepted by operatives of the Safer Highway patrol team during a routine stop-and-search operation on a commercial bus along Ife Road.

The Police Public Relations Officer (PPRO) of the Oyo State Police Command, DSP Ayanlade Olushola Olayinka, said the operatives recovered a locally made, cut-to-size pistol and a cartridge during a search of the vehicle.

SEE ALSO: Oyo Police Begin Probe Into Abduction of Pastor’s Daughter In Ibadan

Olayinka said further questioning revealed that the suspect had travelled to Oyo State to carry out a revenge killing over his brother’s death.

“Further questioning revealed that he had travelled all the way from Anambra to Oyo State to carry out a revenge killing,” he said.

He added that the suspect had been arrested and was undergoing investigation to establish his connections and determine the extent of his alleged activities.

“All thanks to God and the good effort of the men of the Safer Highway, he was intercepted, arrested, and is currently undergoing investigation to know his connections and how wide it is,” Olayinka said.

Suspect Recounts Brother’s Death

During an interview following his arrest, Odo said the incident stemmed from the death of his brother in 2021, when he was working in Benue State.

He explained that his brother was schooling in Nsukka, Enugu State, when he received information that someone had killed him.

“It was in 2021. I was working in Benue State, so I had information that my brother, who was in school in Nsukka, had just died in the school, that somebody killed him in the school,” he said.

Odo added that his mother died a few weeks after his brother’s death.

He said he subsequently received information that the person allegedly responsible for his brother’s death was living in a southwestern state.

“So, last month, I had information that the boy is living in a state, a Yoruba state. So, I said okay, I will find out that place where he is living,” the suspect said.

He explained that he was travelling from Nsukka towards Oyo State when police operatives intercepted and arrested him.

When questioned about whether he knew the exact location of the person he intended to confront, Odo initially said he did not know the particular state but confirmed that he was heading to Oyo State.

“The information is with me,” he said, suggesting that he had information that could help him locate the individual.

Suspect Says He Bought Pistol for ₦20,000
When questioned about the firearm recovered from him, Odo said he purchased the pistol from a friend for ₦20,000.

“I bought it from my friend,” he said.
Asked what his friend did with firearms, the suspect said the individual might be a hunter.

“I don’t know, maybe he’s a hunter. A hunter who kills with pistol? Yes, he has this one and long, so he was the one that sell this one for me, 20,000,” he said.

Suspect Confirms Membership of Vikings Confraternity

During the interview, Odo was also questioned about reports that his deceased brother belonged to a cult group.

He said he could not confirm whether his brother was a member.

“Maybe he belongs, maybe he did not belong, because I was not there with him,” he said.

However, when asked whether he belonged to a cult group himself, the suspect answered in the affirmative and identified the group as Vikings.

The police said investigations were ongoing to establish the suspect’s connections and determine whether other individuals were involved in the alleged planned revenge killing.

 

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Crime

Police Rescue Three Kidnap Victims in Taraba After Sustained Pressure

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Police Rescue Three Kidnap Victims in Taraba After Sustained Pressure
The Nigeria Police Force has disclosed the rescue of three kidnapped victims in Taraba State following sustained pressure mounted by its rescue teams.

The victims were identified as Otuwe Torhumba, 37; Kenneth Nyiutse, 35; and Michael Emmanuel, 27.

The Force made the disclosure on Saturday, October 3, 2026, in its 24-hour operational update covering security operations recorded across the country on October 2.

ALSO READ: 2027: Ogun Police Begins Early Election Security Preparations, Warns Against Political Violence

According to the Police, “Due to sustained pressure by Police rescue teams, three of five kidnapped victims — Otuwe Torhumba (37), Kenneth Nyiutse (35) and Michael Emmanuel (27) — were rescued unharmed and reunited with their families.”

The Police said the three victims were rescued unharmed and subsequently reunited with their families.

The Force did not provide further details on the circumstances surrounding the abduction or the whereabouts of the remaining two victims in the operational summary.

The case is currently being investigated by the State Criminal Investigation Department (SCID), Jalingo.

The rescue was among several operational successes recorded by the Nigeria Police Force during the reporting period.

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Crime

Police Rescue 86-Year-Old Man, Son From Suspected Cultists in C’Rivers

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The Nigeria Police Force has disclosed the rescue of an 86-year-old man and his son after they were allegedly detained by suspected members of the Axe Men confraternity in Cross River State.

The victims, identified as Dominic Columbus Udoh, 86, and his son, Emmanuel Columbus Udoh, 40, were rescued by Police operatives on Friday, October 2, 2026.

The Police made the disclosure on Saturday, October 3, in its 24-hour operational update detailing security successes recorded across the country.

SEE ALSO: Benue: Police Repel Bandit Ambush, Recover Locally Fabricated Gun

According to the Force, Police operatives were mobilised to the scene after receiving information that suspected Axe Men confraternity cultists had unlawfully detained the two men.

The Police said the suspected cultists fled from the scene when operatives arrived.
The Force stated that officers, with assistance from neighbours, “forced open the locked apartment,” where the two victims were found.

According to the Police, both victims had sustained facial and chest injuries.

They were subsequently rescued and conveyed to the Police Hospital for medical treatment.

The Police said the incident is currently being investigated by the State Criminal Investigation Department (SCID), Calabar.

 

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