Bauchi Finance Commissioner, Others Remanded as Court Sets date for Ruling

Justice Emeka Nwite of the Federal High Court in Abuja has set January 5, 2026, to deliver a ruling on the bail applications of Bauchi State Commissioner for Finance, Yakubu Adamu, and three co-defendants arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged terrorism financing and money laundering.

On December 31, 2025, the EFCC arraigned Adamu alongside Balarabe Abdullahi Ilelah, Aminu Mohammed Bose, and Kabiru Yahaya Mohammed. The defendants face a ten-count charge involving conspiracy, conversion of public funds, and terrorism financing, allegedly in violation of Section 2(1) and Section 19(1)(d), and punishable under Section 19(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.

During proceedings, EFCC counsel Samuel Chime requested that the charges be formally read to the defendants, noting that the ten-count charge was filed on December 30, 2025. One count alleges that Adamu received USD 6.95 million in cash in 2024 outside the regulated financial system. Another count accuses Adamu, alongside the Accountant-General of Bauchi State (currently at large) and other government account signatories, of conspiring between January and May 2024 to provide USD 2.3 million in cash to Bello Bodejo and associates. The funds were allegedly approved by Governor Bala Abdulkadir Muhammed and believed to be intended for terrorism financing, in breach of the Terrorism (Prevention and Prohibition) Act, 2022.

All four defendants pleaded “not guilty” to the charges. Chime subsequently requested a trial date to open the prosecution’s case. Defence counsel confirmed filing separate bail applications for each defendant, with the prosecution filing a joint counter-affidavit on December 30, 2025. Following submissions, Justice Nwite adjourned the matter to January 5, 2026, for ruling on bail and ordered that the defendants remain in Kuje Correctional Centre custody pending the decision.

Earlier reports by SaharaReporters noted that Adamu was also arraigned over alleged money laundering offences totaling ₦5.79 billion. He was charged alongside Ayab Agro Products and Freight Company Limited on a six-count indictment under Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022. The charges allege that Adamu, while Branch Manager at Polaris Bank Plc, Bauchi, conspired between June and December 2023 with Ishaku Mohammed Aliyu and Muntaka Mohammed Duguri to launder ₦4.65 billion. The funds were ostensibly for supplying motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises, which were never delivered.

Another charge states that Adamu acquired and controlled ₦976 million paid into I.S. Makayye Investment Resources Limited, later distributed to various individuals and entities, despite knowing the funds were proceeds of unlawful activity.

After pleading not guilty, Adamu’s bail application was opposed by the prosecution. Justice Nwite adjourned that matter to January 2, 2026, for a ruling and ordered Adamu be remanded in EFCC custody.

According to Talk Nigeria, the high-profile arraignments underscore the EFCC’s ongoing efforts to clamp down on alleged financial crimes linked to public office, with the court’s imminent rulings expected to set the tone for subsequent proceedings.