A Federal High Court in Abuja has granted Bauchi State Commissioner of Finance, Yakubu Adamu, bail set at ₦500 million with two sureties of equal value.
Ruling on the bail application, Justice Emeka Nwite stipulated that the sureties must be landowners within Maitama, Asokoro, or Gwarimpa districts of Abuja, with their property documents verified by the court registry. The sureties are also required to depose to an affidavit of means.
The judge further ordered that both the defendant and his sureties deposit their passports with the court registrar and refrain from international travel without the court’s permission. They must also provide two passport photographs to the registrar.
Justice Nwite directed that Adamu remain in Kuje Correctional Centre pending the fulfillment of his bail conditions and adjourned the case to January 20, 2026, for the commencement of trial.
The Economic and Financial Crimes Commission (EFCC) had named Adamu and a company, Ayab Agro Products and Freight Company Ltd, as first and second defendants in a money laundering case involving approximately ₦4.6 billion.
According to the EFCC, the defendants allegedly facilitated the conversion, transfer, concealment, and use of ₦4.65 billion provided by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government. The funds, the commission claims, were misappropriated through Emmanuel Asomugha General Enterprises and the motorcycles were not supplied, in violation of Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Adamu and three other co-defendants, who are also Bauchi State employees, are facing a separate criminal charge related to alleged terrorism financing amounting to $9.7 million before Justice Nwite.
