The Federal High Court in Abuja has admitted the Bauchi State Commissioner of Finance, Yakubu Adamu, to bail in the sum of ₦500 million with two sureties in like amount.
Justice Emeka Nwite, who delivered the ruling on Friday, ordered that the two sureties must be landowners within Maitama, Asokoro, or Gwarimpa districts of Abuja. He further directed that the property documents submitted by the sureties be verified by the court registry.
The judge also ruled that the sureties must depose to affidavits of means. In addition, Adamu and his sureties are required to deposit their international passports with the court registrar and are barred from travelling outside the country without the court’s permission.
Justice Nwite further ordered that two passport photographs of the defendant and the sureties be submitted to the court registrar.
Pending the fulfilment of the bail conditions, the court ordered that Adamu be remanded at the Kuje Correctional Centre. The matter was adjourned until January 20 for the commencement of trial.
In his ruling, Justice Nwite stated that the court was inclined to exercise its discretionary powers in favour of the defendant, noting that the prosecution failed to present compelling reasons suggesting that Adamu would jump bail or interfere with the trial.
He stressed that the power to grant bail must be exercised judicially and judiciously, adding that the circumstances of the case justified the defendant’s temporary release.
Adamu is standing trial alongside Ayab Agro Products and Freight Company Ltd, listed as the first and second defendants respectively, in a money laundering case involving approximately ₦4.6 billion.
The charge, marked FHC/ABJ/CR/694/2025, was filed on December 19, 2025, by the Economic and Financial Crimes Commission (EFCC) through its counsel, Samuel Chime, of the Legal and Prosecution Department.
According to the EFCC, the defendants allegedly facilitated the conversion, transfer, concealment, and use of about ₦4.65 billion provided by Polaris Bank under the pretext of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises.
The commission alleged that the motorcycles were never supplied, an act said to contravene Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
In another count, Adamu and other accused persons were alleged to have retained and transferred proceeds of unlawful activities through nominees and third-party accounts in 2023, including transfers made through I.S. Makayye Investment Resources Ltd and ₦165.9 million paid to Ayab Agro Products and Freight Company Ltd.
The defendants pleaded not guilty to the six-count charge when they were arraigned on December 30, 2025.
Separately, Adamu and three other Bauchi State officials are also facing another criminal charge before the same court over alleged terrorism financing involving $9.7 million.
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