The Federal High Court in Abuja has granted bail to Bauchi State Commissioner for Finance, Yakubu Adamu, in a money laundering case filed by the Economic and Financial Crimes Commission (EFCC).
Justice Emeka Nwite ruled on Friday that Adamu should be released on N500 million bail, with two sureties who own property in Maitama, Asokoro, or Gwarinpa in the Federal Capital Territory. The sureties were also required to swear affidavits of means to confirm their financial capability.
The court further ordered that Adamu surrender his international passport and barred him from travelling abroad without prior court approval. He is to remain in custody until all bail conditions are fully met.
Adamu is facing trial alongside Ayab Agro Products and Freight Company Ltd under case number FHC/ABJ/CR/694/2025. He was arraigned on six counts of money laundering, with the two companies named as co-defendants.
The EFCC alleged that the defendants diverted funds meant for supplying motorcycles to the Bauchi State Government. Although the contract was reportedly not executed, the funds were allegedly transferred to various individuals and entities, despite the defendants’ knowledge that the money was derived from unlawful activity. The offence, the commission said, violates Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
All defendants pleaded not guilty. While Adamu’s lawyer, Gordy Uche, SAN, requested bail for his client, EFCC counsel Samuel Chime opposed the application and asked for an accelerated hearing.
Justice Nwite noted that the offences charged are bailable and set January 20 for the commencement of the full trial. Meanwhile, Adamu was remanded at the Kuje Correctional Centre ahead of Monday’s hearing on his bail application in a separate terrorism-related case.
The EFCC also disclosed that Emmanuel Asomugha General Enterprises was initially awarded the Bauchi State Government motorcycle supply contract.