In a shocking development, the Federal High Court in Abuja has ordered the remand of Yakubu Adamu, the Bauchi State Commissioner for Finance, in Kuje Correctional Centre, meaning he will spend the New Year behind bars as he awaits a ruling on his bail application.
Justice Emeka Nwite issued the remand order on Tuesday after a hearing where Chief Gordy Uche, SAN, represented Adamu and his company, Ayab Agro Products and Freight Company Ltd, while the Economic and Financial Crimes Commission (EFCC) was represented by Samuel Chime, SAN. The court proceedings followed the arraignment of Adamu and Ayab Agro on six counts of alleged money laundering involving a staggering N4.6 billion.
The charges, delineated in the case marked FHC/ABJ/CR/694/2025 and filed on December 19, allege that Adamu, while serving as the Branch Manager of Polaris Bank Ltd in Bauchi, conspired with others to facilitate the conversion, transfer, concealment, and use of funds totaling approximately N4,650,000,000.00. This was done under the guise of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises.
“The motorcycles were not supplied, and you thereby committed an offence contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022,” the charge states.
In another count, Adamu, alongside co-defendants Aliyu Ishaku and Muntaka Mohammed Duguri, who are currently at large, was accused of retaining and transferring the proceeds of unlawful acts, including payments made through third-party accounts.
As the matter unfolded in court, EFCC’s lawyer informed the judge that the arraignment was set to proceed, and the defendants pleaded not guilty to all charges. Uche requested bail for Adamu, citing the need for him to assist in paying state workers’ salaries, but the prosecution opposed the application, prompting the judge to defer the ruling.
Justice Nwite ultimately ordered Adamu to be remanded in Kuje Correctional Centre pending the decision on his bail application, which is scheduled for January 2, 2026.
The proceedings took a further twist as the EFCC indicated that additional defendants had been brought into the case, with new charges also filed against them, although the judge adjourned the arraignment for those charges until Wednesday.
This dramatic turn of events has raised considerable attention, as the incumbent finance commissioner faces serious legal challenges that will extend into the New Year.
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