The Federal High Court in Abuja has granted bail to Bauchi State Commissioner for Finance, Yakubu Adamu, under strict conditions in an alleged N4.6 billion money laundering case.
Justice Emeka Nwite approved bail at N500 million, requiring two sureties who own landed properties in Abuja’s high-end districts—Maitama, Asokoro, or Gwarinpa.
The sureties must submit original Certificates of Occupancy to the court and surrender their international passports. Adamu is barred from leaving Nigeria without judicial permission and must submit his passport photograph. Until bail terms are met, he will be held at Kuje Prison.
Adamu and Ayab Agro Products and Freight Company Ltd face a six-count charge filed by the Economic and Financial Crimes Commission (EFCC). The case alleges that while serving as Polaris Bank Branch Manager in Bauchi, Adamu conspired to divert about N4.65 billion meant for motorcycle supplies to the state government—supplies that were never delivered.
The EFCC claims parts of the funds, including N165.9 million, were transferred to the second defendant, Ayab Agro.
The prosecution, led by Samuel Chime, opposed bail, but Chief Gordy Uche, SAN, secured the court’s approval for his client. The case continues.
Disclaimer:
This report is based on court proceedings and the EFCC charge. All individuals are presumed innocent until proven guilty. CDA News Nigeria independently verify legal claims.
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