Abuja, Nigeria – On December 30, 2025, the Federal High Court in Abuja ordered the remand of Yakubu Adamu, Bauchi State Commissioner for Finance and Economic Development, in the custody of the Economic and Financial Crimes Commission (EFCC) pending a ruling on his bail application. The decision followed his arraignment alongside a company on a six-count charge of alleged money laundering involving approximately N4.65 billion.
Justice Emeka Nwite presided over the proceedings in the case marked FHC/ABJ/CR/694/2025, where Adamu and Ayab Agro Products and Freight Company Ltd are listed as the first and second defendants, respectively. The charges, filed on December 19, 2025, by EFCC prosecutor Samuel Chime, accuse Adamu of offences committed between June and December 2023 while he served as Branch Manager of Polaris Bank in Bauchi.
The core allegation centers on a purported loan facility of N4.65 billion from Polaris Bank, ostensibly for financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises. Investigations claim the motorcycles were never supplied, yet the funds were released and subsequently diverted. Adamu is accused of conspiring with individuals now at large—Ishaku Mohammed Aliyu (Managing Director of Makayye Investment Resources Ltd) and Muntaka Mohammed Duguri—to convert, transfer, and conceal the proceeds through nominees and third-party accounts, including transfers to the second defendant company.
Specific counts highlight transactions such as the routing of portions of the funds through Makayye Investment Resources Ltd and Ayab Agro Products, with one transfer amounting to N165.9 million. The offences are said to contravene sections of the Money Laundering (Prevention and Prohibition) Act, 2022.
During the session, Chime informed the court of readiness for arraignment. The charges were read, and both defendants pleaded not guilty. Defence counsel, Chief Gordy Uche (SAN), moved an oral bail application for Adamu, arguing the offences are bailable and citing the defendant's public role, including the impact of his detention on Bauchi State workers' salaries.
Chime opposed, referencing a counter-affidavit filed on December 22, 2025, and urging accelerated trial instead of bail. Uche highlighted previous appeals for interim release to facilitate state financial obligations.
Justice Nwite adjourned to January 2, 2026, for the bail ruling. Initially considering remand at Kuje Correctional Centre, the judge granted Chime's request for temporary EFCC custody to address logistical challenges in transporting the defendant.
Separately, the EFCC mentioned a fresh 10-count charge (FHC/ABJ/CR/705/2025) involving terrorism financing allegations of up to $9.7 million against Adamu and others, but the judge noted it was not yet before the court and adjourned that arraignment to January 1, 2026.
Adamu's detention since early December has raised concerns over state operations, with defence emphasizing delays in salary payments affecting over 60,000 workers. The case underscores the EFCC's intensified probe into high-profile financial misconduct, particularly linked to public contracts and banking facilities.
As proceedings continue into the new year, stakeholders await the bail decision, which could influence broader implications for governance in Bauchi State under Governor Bala Mohammed.
