The Kaduna State High Court has postponed the hearing of a bail application for Bashir Sa’idu, the former Chief of Staff to ex-Governor Nasir El-Rufai, to Thursday, January 23, 2025.
Sa’idu, who also served as Commissioner for Finance during the El-Rufai administration, is facing a 10-count charge brought by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
The charges include allegations of money laundering, embezzlement, and theft.
According to the ICPC, Sa’idu is accused of selling $45 million in foreign currency owned by the Kaduna State Government at an undervalued rate of ₦410 per dollar, instead of the parallel market rate of ₦498 per dollar.
This transaction reportedly resulted in a ₦3.96 billion loss to the state. The prosecution further alleged that Sa’idu laundered the resulting funds, contravening Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
Sa’idu has pleaded not guilty to the charges.
During the proceedings, defense counsel M.I. Abubakar urged the court to grant his client bail, noting that Sa’idu had already spent 21 days in custody following his arrest on January 2, 2025.
However, the prosecution, led by Prof. Nasiru Aliyu, opposed the application, citing legal provisions that grant the prosecution seven days to respond to a bail request.
In his ruling, Justice Isa Aliyu agreed that the prosecution should be allowed sufficient time to prepare its response. Consequently, the court adjourned the bail hearing to January 23, 2025.
Sa’idu remains in custody as the legal proceedings continue.
