By RismadarVoice Reporters
January 3, 2026
The Federal High Court sitting in Abuja has granted bail to the Bauchi State Commissioner for Finance, Yakubu Adamu, in the sum of ₦500 million, however ordered that he be returned to the Kuje Correctional Centre, pending the perfection of his bail conditions.
Justice Emeka Nwite gave the order on Friday after admitting Adamu to bail with two sureties, who must be owners of landed property within Maitama, Asokoro or Gwarimpa districts of the Federal Capital Territory, Abuja.
The judge directed that the property, documents of the sureties be verified by the court registry and that they also depose to affidavits of means.
Justice Nwite further ordered Adamu and his sureties to deposit their international passports with the court registrar and barred them from travelling outside the country without the court’s permission. He also directed the deposit of two passport photographs each with the registrar.
In his ruling, the judge said the court was inclined to exercise its discretion in favour of the defendant, noting that the prosecution failed to place sufficient materials before the court to show that Adamu would abscond or interfere with the trial if granted bail.
“The power to grant bail must be exercised judicially, judiciously,” Justice Nwite held, adding that the conditions imposed were sufficient to ensure the defendant’s availability for trial.
He subsequently adjourned the matter to January 20, 2026, for the commencement of trial.
Adamu is standing trial alongside Ayab Agro Products and Freight Company Ltd in a six-count charge of money laundering involving about ₦4.6 billion, filed by the Economic and Financial Crimes Commission.
According to the charge marked FHC/ABJ/CR/694/2025 and dated December 19, 2025, the EFCC alleged that Adamu, while serving as Branch Manager of Polaris Bank Ltd, Bauchi, conspired between June and December 2023 with the Managing Director of Makayye Investment Resources Ltd, Ishaku Mohammed Aliyu, and one Muntaka Mohammed Duguri, both currently at large, to facilitate the conversion, transfer, concealment and use of about ₦4.65bn.
The funds were allegedly disbursed by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises.
The motorcycles, the EFCC said, were never supplied.
One of the counts further alleged that parts of the funds were transferred through third-party accounts, including a transfer of ₦165.9m to Ayab Agro Products and Freight Company Ltd, which the commission said formed part of the proceeds of an unlawful act.
The offences are said to be contrary to Section 20(a), punishable under Section 20 of the Money Laundering (Prevention and Prohibition) Act, 2022.
Adamu and the company were arraigned on December 30, 2025, where they pleaded not guilty to all the charges, prompting the court to order his remand, pending the ruling on his bail application.
The Bauchi finance commissioner is also facing a separate charge alongside three other state officials over alleged terrorism financing, involving $9.7 million before the same court.
