Justice Inyang Ekwo of the Federal High Court in Abuja has granted bail to Yisawu, the former Managing Director of the Warri Refining and Petrochemical Company.
The court set the bail amount at ₦500 million ($330,000), allowing the executive to remain at liberty while legal proceedings continue.
The ruling comes amid a broader wave of legal actions targeting former leadership within Nigeria's state-owned oil refining sector.
The Economic and Financial Crimes Commission (EFCC) has been actively pursuing cases against executives accused of financial misconduct, aiming to recover alleged losses and enforce accountability in the energy infrastructure.
This development follows the recent arraignment of Ahmed Dikko, the former Managing Director of the Port Harcourt Refining Company Limited, who also appeared before the Federal High Court in Abuja on similar charges.
The parallel cases highlight the intensifying regulatory and judicial focus on governance within Nigeria's downstream oil industry.