A Federal High Court in Abuja has ordered the remand of Yakubu Adamu, the Bauchi State Commissioner for Finance, pending a ruling on his bail application.
Justice Emeka Nwite gave the order on Tuesday after hearing arguments on Adamu’s bail request, which was moved by his counsel, Chief Gordy Uche (SAN), and opposed by the Economic and Financial Crimes Commission (EFCC).
The remand followed the arraignment of Adamu and Ayab Agro Products and Freight Company Ltd on a six-count charge bordering on alleged money laundering amounting to ₦4.6 billion.
Allegations
According to the charge marked FHC/ABJ/CR/694/2025, Adamu and the company are listed as the first and second defendants. The charge, dated December 19, was filed by Samuel Chime of the EFCC’s Legal and Prosecution Department.
In one of the counts, the EFCC alleged that Adamu, while serving as Branch Manager of Polaris Bank, Bauchi, conspired between June and December 2023 with Ishaku Aliyu, Managing Director of Makayye Investment Resources Ltd, and Muntaka Mohammed Duguri, both currently at large.
The defendants were accused of facilitating the conversion, transfer, concealment, and use of ₦4.65 billion purportedly disbursed by Polaris Bank to finance the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises. The EFCC alleged that the motorcycles were never supplied.
Another count accused the defendants of retaining and transferring proceeds of unlawful activity through third-party accounts, including the transfer of ₦165.9 million to Ayab Agro Products and Freight Company Ltd.
The alleged offences are said to be contrary to provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Court Proceedings
When the charges were read, the defendants pleaded not guilty to all six counts. The prosecution thereafter applied for a trial date.
Defence counsel informed the court that a bail application had been filed for Adamu and urged the court to grant it on liberal terms. The EFCC opposed the request, citing a counter-affidavit filed on December 22, and urged the court to refuse bail while also seeking accelerated hearing of the case.
After listening to both parties, Justice Nwite ordered that Adamu be remanded at the Kuje Correctional Centre pending the ruling on his bail application.
The matter was adjourned to January 2, 2026, for the bail ruling.
The judge also declined the prosecution’s request to arraign the defendants on a fresh charge filed the same day, stating that the charge was not yet before the court. The arraignment was adjourned to Wednesday.
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