A Federal High Court sitting in Abuja has granted the Bauchi State Commissioner of Finance, Yakubu Adamu, bail in the sum of ₦500 million over allegations of money laundering.
In a ruling on the bail application, Justice Emeka Nwite ordered that the defendant must produce two sureties in like sum, who must be verified landowners in Maitama, Asokoro, or Gwarimpa districts of the Federal Capital Territory. The court directed that all property documents presented by the sureties be verified by the court registry.
The judge further ruled that the sureties must depose to an affidavit of means, while both the defendant and the sureties are to deposit their international passports with the court registrar. They are also barred from travelling outside the country without the court’s permission.
Justice Nwite also ordered the submission of two passport photographs by the defendant and his sureties.
Pending the fulfillment of the bail conditions, the court ordered that Adamu be remanded at the Kuje Correctional Centre. The case was adjourned to January 20, 2026, for the commencement of trial.
The Economic and Financial Crimes Commission (EFCC) had arraigned Adamu alongside a company, Ayab Agro Products and Freight Company Ltd, listed as the first and second defendants respectively, over an alleged ₦4.6 billion money laundering scheme.
According to the charge, the defendants were accused of facilitating and agreeing to the conversion, transfer, concealment, and use of about ₦4.65 billion, allegedly released by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government.
The EFCC alleged that the funds were routed through Emmanuel Asomugha General Enterprises, but the motorcycles were never supplied, an offence said to be contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.
In a related development, Adamu and three other Bauchi State government officials are also facing a separate criminal charge before the same court, bordering on alleged terrorism financing to the tune of $9.7 million.
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