Court Remands Former Kaduna Chief Of Staff Over Alleged ₦3.96 Billion Fraud

Bashir Sa’idu, the former Chief of Staff to the immediate past governor of Kaduna state, Nasir El-Rufai, has been remanded in a correctional facility by the Kaduna State High Court, pending the hearing of his bail application.

The court, presided over by Justice Isa Aliyu, adjourned the bail hearing to Thursday, January 23, 2025.

Sa’idu, who also served as Commissioner for Finance, faces a 10-count charge that includes allegations of money laundering, embezzlement, and stealing during his tenure.

According to the prosecution, Sa’idu sold $45 million in hard currency belonging to the Kaduna State Government at the undervalued rate of ₦410 per dollar instead of the parallel market rate of ₦498 per dollar.

The transaction, carried out in 2022, allegedly resulted in a ₦3,960,000,000 loss to the state.

The prosecution further alleged that the discrepancy was laundered by Sa’idu, violating Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.

During the court proceedings on Tuesday, the charges were read to Sa’idu, to which he pleaded not guilty.

Sa’idu’s counsel, M.I. Abubakar, argued for his client’s release on bail, noting that Sa’idu had already spent 21 days in custody following his arrest on January 2, 2025.

“The bail application was filed on January 16, and granting my client bail will provide him the necessary time and resources to prepare his defence against the charges,” Abubakar stated.

However, the prosecution counsel, Prof. Nasiru Aliyu, opposed the bail application, citing legal provisions that allow the prosecution seven days to respond to such applications.

After a 40-minute recess, Justice Aliyu ruled that the prosecution should be given the time allowed by law to file its response.

The case was adjourned to January 23, 2025, for the hearing of the bail application. In the meantime, Sa’idu will remain in custody.