The Federal High Court in Abuja on Tuesday ordered the remand of Yakubu Adamu, the Bauchi State Commissioner for Finance, pending a ruling on his bail application.
Justice Emeka Nwite gave the order after Adamu’s counsel, Chief Gordy Uche, SAN, moved a bail application which was opposed by the Economic and Financial Crimes Commission (EFCC).
The order followed the arraignment of Adamu alongside Ayab Agro Products and Freight Company Ltd on a six-count charge bordering on alleged money laundering amounting to N4.6 billion.
The EFCC charged Adamu and the company as first and second defendants in the suit marked FHC/ABJ/CR/694/2025, dated December 19 and filed by the commission’s counsel, Samuel Chime.
According to the charge, Adamu, while serving as Branch Manager of Polaris Bank Ltd in Bauchi, allegedly conspired with Ishaku Aliyu, Managing Director of Makayye Investment Resources Ltd, and Muntaka Mohammed Duguri, both currently at large, to commit the offence between June and December 2023.
They were accused of facilitating the conversion, transfer, concealment and use of about N4.65 billion 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 prosecution alleged that the motorcycles were never supplied.
Count six of the charge further accused Adamu and the other suspects of retaining and transferring proceeds of unlawful activities to nominees and third parties by circulating parts of the funds through third-party accounts in 2023.
It was alleged that N165.9 million was transferred to Ayab Agro Products and Freight Company Ltd through Makayye Investment Resources Ltd as part of the illicit transactions.
The offences are said to be contrary to Sections 20(a) and 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the case was called, the EFCC informed the court that it was ready to proceed with the arraignment. The defence did not oppose the arraignment.
After the charges were read, the defendants pleaded not guilty to all six counts.
The prosecution applied for a trial date, while Adamu’s counsel informed the court that a bail application had been filed and urged the court to grant bail on liberal terms.
Chime opposed the bail application, noting that the EFCC had filed a 15-paragraph counter-affidavit and urged the court to refuse bail and order an accelerated hearing.
Uche appealed to the court to release Adamu temporarily to the Bauchi State Attorney-General, citing the need to pay workers’ salaries, but the judge declined and fixed a short date for ruling.
Justice Nwite subsequently ordered that Adamu be remanded at the Kuje Correctional Centre pending the ruling on his bail application and adjourned the matter to January 2, 2026.
At the end of proceedings, the EFCC informed the court that additional defendants had reported to its office and that a fresh charge had been filed, including Adamu.
However, the judge declined to entertain the new charge, stating that it was not yet before the court, and adjourned the arraignment to Wednesday.
Following an application by the prosecution, the court granted permission for Adamu to be remanded in the EFCC’s custody pending the next arraignment to avoid logistical challenges.