The Federal High Court sitting in Abuja, on Tuesday, ordered the remand of the Bauchi State Commissioner for Finance, Yakubu Adamu, pending the ruling on his bail application.
Naijaonpoint reports that Justice Emeka Nwite made the order shortly after Adamu and a firm, Ayab Agro Products and Freight Company Ltd, were arraigned on a six-count charge bordering on alleged money laundering involving the sum of ₦4.6 billion.
The Economic and Financial Crimes Commission (EFCC) had, in the charge marked FHC/ABJ/CR/694/2025, listed Adamu as the 1st defendant and Ayab Agro Products and Freight Company Ltd as the 2nd defendant.
The charge, dated December 19, 2025, was filed by the EFCC’s counsel, Samuel Chime, of the commission’s Legal and Prosecution Department.
When the matter was called, Chime informed the court that the case was slated for arraignment and that the prosecution was ready to proceed. The defence counsel did not oppose the application.
After the charges were read, Adamu and the company pleaded not guilty to all six counts.
In count one, the EFCC alleged that Adamu, while acting as Branch Manager of Polaris Bank Ltd, Bauchi, conspired with Ishaku Aliyu, Managing Director of Makayye Investment Resources Ltd (now at large), and Muntaka Mohammed Duguri (also at large) between June and December 2023.
They were accused of facilitating the conversion, transfer, concealment and use of ₦4,650,000,000 allegedly released by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises.
“The motorcycles were not supplied, and you thereby committed an offence contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022,” the charge read in part.
Yakubu-Adamu
Count six further accused Adamu, Aliyu and Duguri of retaining and transferring proceeds of an unlawful act through nominees and third parties in 2023.
The EFCC alleged that parts of the funds were circulated through third-party accounts, including transfers made through I.S. Makayye Investment Resources Ltd and a sum of ₦165,900,000 allegedly transferred to Ayab Agro Products and Freight Company Ltd.
According to the commission, the funds formed part of the proceeds of an unlawful act, contrary to Section 20(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Following the plea, Chime applied for a trial date, but Adamu’s counsel, Chief Gordy Uche, SAN, informed the court that a bail application had been filed on behalf of the commissioner.
Uche urged the court to admit his client to bail pending trial, noting that although the defence had received a counter affidavit from the prosecution, it would not be responding as the EFCC had left the matter to the discretion of the court.
He appealed for bail on liberal terms, recalling that at the previous sitting, he had passionately urged the court to release Adamu to the Bauchi State Attorney-General in the interim due to the need to pay workers’ salaries.
Opposing the bail request, Chime told the court that the EFCC filed a 15-paragraph counter affidavit on December 22 with an exhibit, urging the court to refuse the application and order an accelerated hearing.
Justice Nwite, however, said a short date would be fixed for ruling on the bail application.
He subsequently ordered that Adamu be remanded at the Kuje Correctional Centre pending the ruling and adjourned the matter till January 2, 2026, for the decision.
At the close of proceedings, the EFCC counsel drew the court’s attention to his earlier promise to bring additional defendants into the matter.
Chime disclosed that the individuals had reported to the commission and that a fresh charge, including Adamu, had been filed.
He prayed the court to allow the charge to be read for the defendants to take their plea, but Justice Nwite declined, noting that the charge was not yet before the court.
Chime later requested that Adamu be remanded in the EFCC’s custody pending the next arraignment to avoid logistical challenges in conveying him to court, a request the judge granted.