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A High Court in Abuja has granted the Bauchi State Commissioner for Finance, Yakubu Adamu, bail of ₦500 million, with two sureties in the same amount.
In ruling on the bail application, Justice Emeka Nwite ordered that the sureties must be landowners in the Maitama, Asokoro, or Gwarimpa districts of Abuja, with their property documents subject to verification by the court registry.
He also directed the sureties to swear affidavits of means.
The judge further ruled that Adamu and his sureties must surrender their passports to the court registrar and must not travel to another country without the court’s permission. They are also to submit two passport photographs each to the registrar.
Justice Nwite ordered that Adamu be remanded at the Kuje Correctional Centre until he meets the bail conditions and adjourned the case to January 20, 2026, for the start of trial.
The Economic and Financial Crimes Commission (EFCC) charged Adamu and Ayab Agro Products and Freight Company Ltd with money laundering involving about ₦4.6 billion.
The commission alleged that the defendants converted, transferred, concealed, and used about ₦4.65 billion released by Polaris Bank under the pretext of financing motorcycle supplies to the Bauchi State Government, which were never delivered.
The charge stated that the alleged transactions, carried out through Emmanuel Asomugha General Enterprises, breached Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Adamu and three other co-defendants, all Bauchi State employees, are also facing a separate charge of alleged terrorism financing amounting to $9.7 million before the same court.
