The Bauchi State Commissioner of Finance, Yakubu Adamu, has been granted N500 million bail in a N4.6 billion cash laundering case.
That is in accordance with particulars contained in a ruling delivered by Justice Emeka Nwite of the Federal Excessive Courtroom, Abuja, following an utility filed by Adamu by his authorized crew.
The ruling comes days after the Commissioner was arraigned by the Financial and Monetary Crimes Fee (EFCC) over allegations linked to a controversial N4.65 billion mortgage transaction involving Polaris Bank.
Adamu, a former Department Supervisor of Polaris Bank Plc in Bauchi State, had on December 30, 2025, pleaded not responsible to the fees introduced towards him, paving the way in which for the consideration of his bail utility.
What the Courtroom Is Saying
Ruling on the bail utility filed by Adamu’s counsel, Godi Uche, SAN, Justice Nwite acknowledged that the grant of bail stays a discretionary energy of the court docket.
- The choose famous that the EFCC did not present compelling proof to help its claims that the defendant may leap bail, intervene with witnesses, or evade trial.
- Primarily based on this evaluation, the court docket resolved to train its discretion in favour of the defendant and granted him bail within the sum of N500 million with two sureties in like sum.
- Justice Nwite additional dominated that the sureties should personal landed property inside Maitama, Asokoro, or Gwarimpa districts of Abuja, with legitimate title paperwork to be verified by the court docket registry. The sureties are additionally required to depose to affidavits of means.
- As well as, the court docket ordered that Adamu and his sureties deposit their worldwide passports with the court docket registrar and barred them from travelling outdoors Nigeria with out prior court docket approval.
- Pending the perfection of the bail circumstances, Adamu was ordered to be remanded on the Kuje Correctional Centre.
- The matter was adjourned to January 20 for the graduation of trial.
What the EFCC is alleging
The EFCC named Adamu and Ayab Agro Merchandise and Freight Firm Ltd as the primary and second defendants within the go well with filed by EFCC counsel, Samuel Chime.
In line with the Fee, the defendants allegedly facilitated the conversion, switch, concealment, and use of funds amounting to about N4.65 billion obtained from Polaris Bank beneath the pretext of financing the availability of bikes to the Bauchi State Authorities by Emmanuel Asomugha Normal Enterprises.
The EFCC alleged that the bikes have been by no means equipped, regardless of representations made to the bank that the contract had been executed.
The offence is alleged to be opposite to Part 21(a) and punishable beneath Part 21 of the Cash Laundering (Prevention and Prohibition) Act, 2022.
Investigations reportedly confirmed that Emmanuel Asomugha Normal Enterprises obtained the mortgage facility from Polaris Bank, purportedly assured by the Bauchi State Authorities by Yakubu Adamu and the previous Accountant-Normal of the state, Sa’idu Abubakar.
The Fee additional alleged that the funds have been later moved to a number of accounts allegedly offered by Adamu, in violation of anti-money laundering legal guidelines.
Why this issues
The case highlights continued scrutiny of public monetary administration and banking-related transactions involving state governments.
Allegations involving senior public officers and multi-billion-naira transactions increase broader considerations round transparency, accountability, and oversight in public finance.
The result of the trial may even have implications for a way state-backed ensures and industrial bank lending to authorities contractors are structured and monitored.
What you need to know
Nairametrics stories that Adamu and three different Bauchi State civil servants are additionally going through a separate alleged $9.7 million terrorism financing cost filed by the EFCC.
The EFCC has intensified prosecutions involving public workplace holders as a part of its broader anti-corruption drive.
The case provides to a rising record of senior authorities officers at present standing trial over alleged monetary crimes in Nigeria.
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