A Federal High Court in Abuja has admitted the Bauchi State Commissioner for Finance, Yakubu Adamu, to bail in the sum of N500 million in connection with an alleged money laundering case instituted by the Economic and Financial Crimes Commission (EFCC).
In a ruling delivered on Friday, Justice Emeka Nwite ordered that Adamu must provide two sureties who are property owners within Maitama, Asokoro or Gwarinpa districts of the Federal Capital Territory. The court also directed the sureties to swear to affidavits of means.
The judge further ordered the commissioner to surrender his international passport and barred him from travelling خارج the country without the court’s permission. Adamu is to remain in custody until all bail conditions are fully met.
The commissioner is being prosecuted alongside Ayab Agro Products and Freight Company Ltd in a case marked FHC/ABJ/CR/694/2025. The EFCC had earlier arraigned him on a six-count charge bordering on money laundering. Two companies, Ayab Agro Products and Freight Company Ltd, and another firm—were also listed as defendants in the matter.
According to the anti-graft agency, the defendants allegedly diverted funds meant for the supply of motorcycles to the Bauchi State Government. The EFCC claimed that although the contract was not executed, the funds were later transferred to various individuals and entities, despite the defendants’ alleged knowledge that the money was proceeds of unlawful activity.
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The alleged offence, the commission said, contravenes Section 21(a) and is punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.
All defendants pleaded not guilty to the charges. Adamu’s counsel, Gordy Uche, SAN, urged the court to grant his client bail, while EFCC counsel, Samuel Chime, opposed the application and requested an accelerated hearing.
In his decision, Justice Nwite held that the granting of bail lies within the discretion of the court, noting that the offences alleged are bailable. He subsequently fixed January 20 for the commencement of full trial.
Meanwhile, the court ordered that Adamu be remanded at the Kuje Correctional Centre pending Monday’s proceedings, when his bail application in a separate terrorism-related charge will be determined.
The EFCC also disclosed that its investigation showed that Emmanuel Asomugha General Enterprises was originally awarded the motorcycle supply contract by the Bauchi State Government.
