Court remands Bauchi finance commissioner over alleged N4.6bn money laundering

The Federal High Court in Abuja has ordered the remand of Yakubu Adamu, Bauchi State’s Commissioner for Finance, pending the outcome of his bail application.

Justice Emeka Nwite issued the order on Tuesday after Chief Gordy Uche, SAN, representing Adamu and Ayab Agro Products and Freight Company Ltd, filed a bail application, which was opposed by the EFCC’s lawyer, Samuel Chime.

The remand came shortly after Adamu and Ayab Agro Products were arraigned on a six-count charge of alleged money laundering involving N4.6 billion.

The case, filed by the EFCC on December 19 and marked FHC/ABJ/CR/694/2025, names Adamu and the company as the first and second defendants.

According to the charges, Adamu, while serving as Branch Manager of Polaris Bank Ltd in Bauchi, allegedly conspired with Ishaku Aliyu, Managing Director of Makayye Investment Resources Ltd, and Muntaka Mohammed Duguri both currently at large to divert funds between June and December 2023.

The funds, totaling about N4.65 billion, were reportedly provided by Polaris Bank to finance the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises. The motorcycles were allegedly never delivered.

Further counts accuse the defendants of transferring portions of the funds to third parties, including N165.9 million to Ayab Agro Products, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.

When the case was called, the defendants pleaded not guilty to all six counts. Chime requested a trial date, while Uche noted that a bail application had been filed for Adamu, urging the court to grant bail on liberal terms.

The EFCC opposed the application, citing a 15-paragraph counter-affidavit filed on December 22, and requested an accelerated hearing.

Justice Nwite, however, ordered Adamu to be remanded in Kuje Correctional Centre pending a ruling on his bail application.

The court adjourned the matter to January 2, 2026, for a decision.

During proceedings, the EFCC informed the court that additional defendants had been identified and charged, including Adamu, but the arraignment of the new charges was adjourned to a later date.

The judge also approved the EFCC’s request to keep Adamu in its custody pending arraignment to avoid logistical challenges in transporting the defendants to court.