A Federal High Court in Abuja has granted bail of ₦500 million to Jimoh Yisawu, the former Managing Director of the Warri Refining and Petrochemical Company Limited, who is facing an eight-count money laundering charge.

Yisawu pleaded not guilty to all counts when the charges were read to him before Justice Inyang Ekwo on Monday.

The Federal Government, through the prosecution, filed the charges on June 22, 2026, accusing Yisawu of violating the Money Laundering (Prevention and Prohibition) Act, 2022.

In the first count, prosecutors alleged that Yisawu indirectly converted over $789,950, said to be proceeds of unlawful activity, contrary to Section 18(2)(b) and punishable under Section 18(3) of the Act.

The second count accused him of making cash payments exceeding $789,950 to one Samaila Bala without routing the transaction through a financial institution. The fourth count alleged similar cash payments totalling $122,600 made through Rasheed Olaitan Yusuf outside the banking system.

Prosecution counsel Ekele Iheanacho (SAN) urged the court to fix a trial date, while defence counsel Wale Balogun (SAN) moved a bail application. Iheanacho opposed the bail, informing the court that a counter-affidavit had been filed.

Balogun told the court that his client had earlier been granted administrative bail by the prosecution and his international passport seized, pleading that the same terms be maintained.

After listening to arguments from both sides, Justice Ekwo granted bail in the sum of ₦500 million with one surety in like sum.

Relying on Section 162 of the Administration of Criminal Justice Act, 2015, the judge ordered that the surety must be a responsible Nigerian with landed property in Abuja and must submit proof of ownership to the court registrar.

Justice Ekwo further directed Yisawu to deposit his international passport with the court and barred him from travelling outside Nigeria without the court’s permission.

Pending the perfection of his bail conditions, the former refinery boss was ordered to remain in the custody of the prosecution.

The case has been adjourned to October 26, 27, and 28, 2026, for the commencement of trial.

Several students were killed when suspected fighters of the Islamic State West Africa Province (ISWAP) launched a midnight raid on the Federal Government Girls College in Monguno in an attempted mass abduction.

The attack, which occurred at about 1:30 a.m. on Saturday, was repelled by troops of Operation HADIN KAI and personnel of the Nigeria Police Mobile Force. After a fierce gun battle, security forces rescued 46 students.

Military sources said the terrorists targeted students who were temporarily housed at the college, which is currently serving as accommodation for students of the Federal Polytechnic Monguno.

Security operatives engaged the attackers immediately, while a Quick Reaction Force from Sector 3 provided reinforcement. The insurgents were forced to abandon the operation and flee the scene.

However, some students were struck and killed by stray bullets fired by the fleeing terrorists during the exchange of fire.

The rescued students were evacuated to Kinnasara Barracks in Monguno, where they received medical attention and were confirmed to be in stable condition.

Authorities have commenced investigations to identify possible collaborators who may have aided the attackers, while troops continue to pursue the fleeing terrorists.

Operation HADIN KAI has since strengthened security around schools and other critical infrastructure across the North-East region to forestall similar incidents.

The Federal Government has arraigned three suspects in connection with the high-profile kidnapping of pupils and teachers from three schools in Oriire Local Government Area of Oyo State on May 15, 2026.

The suspects, whose identities were not immediately disclosed for security reasons, were brought before a Federal High Court in Abuja on terrorism-related charges, including conspiracy, aiding and abetting kidnapping, and links to the armed group responsible for the abduction.

The dramatic school attack saw heavily armed gunmen storm Baptist Nursery and Primary School in Yawota, Community High School in Ahoro-Esinele, and L.A. Primary School, abducting around 46 pupils, students, and teachers, including a two-year-old toddler. One teacher was killed in captivity, heightening national outrage.

Security operations led by the military, police, DSS, and other agencies resulted in the rescue of all surviving victims after 56 days. Eight suspects were arrested in total during the operation, with several others neutralized. The three now facing formal arraignment are believed to be key figures or accomplices linked to the network, possibly including informants or logistics providers.

Presidential spokesman Bayo Onanuga had earlier confirmed that no ransom was paid and no prisoner swap occurred, despite demands from the abductors for the release of detained Ansaru commanders Mahmud Usman and his deputy. The government maintained a firm stance, emphasizing justice for the victims and the slain teacher.

The arraignment underscores ongoing efforts by the Federal Government to dismantle criminal networks behind school attacks and banditry in the region. The suspects pleaded not guilty to the charges, and the court adjourned the case for further hearing while remanding them in DSS custody.

Oyo State Governor Seyi Makinde and security agencies have been commended for their roles in the rescue, even as communities call for sustained vigilance and improved school security in vulnerable areas. The incident has reignited debates on protecting educational institutions from such threats.