Justice Emeka Nwite of the Federal High Court, Abuja, on Friday granted bail to Bauchi State Commissioner for Finance, Yakubu Adamu, in the alleged N4.6 billion fraud case instituted by the Economic and Financial Crimes Commission (EFCC).
The judge imposed stringent bail conditions, setting the bail sum at N500 million with two sureties. The sureties are required to have landed properties in Abuja’s Maitama, Asokoro, or Gwarinpa districts, and must deposit the original Certificates of Occupancy with the court throughout the trial period.
Additionally, the sureties must submit their international passports to the court registrar, while the commissioner is barred from traveling outside Nigeria without the court’s express permission. Justice Nwite also ordered that both the defendant and his sureties provide recent passport photographs to the court.
Pending the fulfilment of these bail conditions, the commissioner was remanded in Kuje Prison.
Chief Gordy Uche, SAN, who represented Adamu and Ayab Agro Products and Freight Company Ltd, moved the bail application, which was opposed by EFCC counsel, Samuel Chime.
Adamu and Ayab Agro Products are facing a six-count charge of alleged money laundering totaling N4.65 billion. The charges, filed on December 19, 2025, allege that Adamu, while serving as Branch Manager of Polaris Bank Ltd, Bauchi, in conspiracy with Ishaku Mohammed Aliyu, Managing Director of Makayye Investment Resources Ltd (currently at large), and Muntaka Mohammed Duguri (also at large), facilitated the diversion of funds meant for the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises.
The prosecution alleged that the motorcycles were never supplied and that parts of the funds were transferred to third parties, including N165.9 million to Ayab Agro Products and Freight Company Ltd, constituting proceeds of an unlawful act, contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
The case, marked FHC/ABJ/CR/694/2025, remains pending before the Federal High Court.
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