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 Chief Gordy Uche, SAN, who appeared for Adamu and a firm, Ayab Agro Products and Freight Company Ltd, moved the bail application and was opposed by the EFCC’s lawyer, Samuel Chime.
The development occurred shortly after Adamu and Ayab Agro Products were arraigned on a six-count charge bordering on alleged money laundering to the tune of N4.6 billion.
The News Agency of Nigeria (NAN) reports that the EFCC had, in the charge marked FHC/ABJ/CR/694/2025, named Adamu and the company as 1st and 2nd defendants.
The charge is dated and filed on Dec. 19 by Chime of the Legal and Prosecution Department of EFCC.
In count one, Adamu, while acting as the Branch Manager of Polaris Bank Ltd, Bauchi, alongside Ishaku Aliyu, Managing Director of Makayye Investment Resources Ltd (now at large), and Muntaka Mohammed Duguri (now at large), is alleged to have conspired to commit the offence sometime between June and December 2023.
They were alleged to have facilitated and agreed to the conversion, transfer, concealment and use of funds in the sum of about N4,650,000,000.00 (four billion, six hundred and fifty million naira) availed by Polaris Bank under the guise of financing the supply of motorcycles to 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 count read in part.
Count six accused Adamu, Aliyu and Duguri of retaining and causing the transfer of proceeds of an unlawful act to nominees and third parties by causing parts of the funds connected with the Polaris Bank facility to be paid and circulated through third-party accounts sometime in 2023.
It further alleged that the transfer included the one made through I.S. Makayye Investment Resources Ltd and the transfer of #165,900,000.00 to Ayab Agro Products and Freight Company Ltd.
The funds were said to have formed part of the proceeds of an unlawful act.
The offence is contrary to Section 20(a) and punishable under Section 20 of the Money Laundering (Prevention and Prohibition) Act, 2022, among other counts.
When the matter was called on Tuesday, EFCC’s lawyer informed the court that the matter was slated for arraignment of the defendants and that he was ready to proceed.
The defence counsel did not oppose the application.
After the counts were read to the defendants, they pleaded not guilty to the six counts.
Chime then applied for a trial date, but Uche told the court that a bail application had been filed on behalf of the 1st defendant (Adamu).
The lawyer said the application prayed the court for an order admitting the 1st defendant to bail pending the trial.
He urged the court to grant their prayer.
Uche said though he was in receipt of a counter affidavit from the prosecution, they would not be responding since the prosecution had left the issue to the discretion of the court.
He urged the court to admit his client to bail on liberal terms.
Responding, Chime said the EFCC filed a 15-paragraph counter affidavit on Dec. 22 with an exhibit to oppose the bail request.
The lawyer, who prayed the court to refuse Adamu’s bail application, urged the court to make an order for an accelerated hearing.
Uche, however, reminded the court that on the last adjourned date, he made a passionate appeal for Adamu to be released to the Bauchi State attorney-general in the interim due to the state’s workers’ salaries, which needed to be paid.
But the judge said a short date would be given for the ruling on the bail application.
Delivering the ruling, Justice Nwite ordered that Adamu be remanded in Kuje Correctional Centre pending the ruling on his bail application.
The judge then adjourned the matter until Jan. 2, 2026, for ruling.
The EFCC lawyer then called the attention of the court to his promise on the last adjourned date to bring more defendants into the matter.
Chime said those persons had finally reported to their office and that another charge had been filed against them, including Adamu.
The lawyer, who said the charge was filed today, prayed the court to allow the charge to be read to the defendants for them to take their plea.
But Justice Nwite said the charge was not before the court and adjourned the arraignment until Wednesday.
Chime then pleaded with the court to allow Adamu to be remanded in the EFCC’s custody pending the arraignment to avoid logistic problems in conveying the defendants to court, and the judge granted the request. (NAN)
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