Bauchi Finance Commissioner Remanded Over Alleged N4.6bn Money Laundering

The Federal High Court in Abuja has ordered the remand of Yakubu Adamu, the Bauchi State Commissioner for Finance, over allegations of money laundering amounting to N4.6 billion.

Justice Emeka Nwite issued the order on Tuesday, directing that Adamu be held in custody pending a ruling on his bail application. The decision followed arguments by his counsel, Chief Gordy Uche, SAN, and opposition from the Economic and Financial Crimes Commission, EFCC, represented by Samuel Chime.

The order came 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. The EFCC, in charge number FHC/ABJ/CR/694/2025, listed Adamu and the company as the first and second defendants respectively. The charge was dated and filed on December 19, 2025.

According to the prosecution, Adamu allegedly committed the offences while serving as Branch Manager of Polaris Bank Ltd in Bauchi. He was accused of conspiring with Ishaku Aliyu, Managing Director of Makayye Investment Resources Ltd, and Muntaka Mohammed Duguri, both currently at large, to facilitate the conversion, transfer, concealment and use of funds totalling about N4.65 billion between June and December 2023.

The funds were reportedly released by Polaris Bank under the pretext of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises. The EFCC alleged that the motorcycles were never supplied, an act said to be contrary to and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.

One of the counts further accused Adamu and his alleged accomplices of retaining and transferring proceeds of unlawful activities through nominees and third-party accounts. This allegedly included the transfer of N165.9 million to Ayab Agro Products and Freight Company Ltd, funds said to be part of the proceeds of the illegal transaction.

When the matter was called, the EFCC informed the court that the defendants were in court for arraignment and that the prosecution was ready to proceed. The defence raised no objection, and after the charges were read, Adamu and the company pleaded not guilty to all six counts.

The prosecution subsequently applied for a trial date, while the defence drew the court’s attention to a bail application already filed on behalf of Adamu. His counsel urged the court to grant bail on liberal terms, noting that although the prosecution had filed a counter affidavit, it had left the matter to the discretion of the court.

Opposing the request, the EFCC disclosed that it had filed a 15-paragraph counter affidavit with an exhibit and urged the court to refuse bail, while also requesting an accelerated hearing of the case.

Justice Nwite, however, stated that a ruling on the bail application would be delivered on a later date and ordered that Adamu be remanded at the Kuje Correctional Centre pending the decision. The matter was adjourned to January 2, 2026, for the bail ruling.

After the adjournment, the EFCC informed the court that additional defendants had been brought into the matter and that a fresh charge had been filed against them, including Adamu. The trial judge declined to entertain the new charge, noting that it was not yet before the court, and adjourned the arraignment until Wednesday.

The court, however, granted the prosecution’s request that Adamu be temporarily remanded in EFCC custody pending the next arraignment, citing logistical concerns.