Reported by: Oahimire Omone Precious | Edited by: Gabriel Osa
Abuja, Nigeria — The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned Bauchi State Commissioner for Finance, Yakubu Adamu, before the Federal High Court in Abuja on charges of alleged money laundering involving approximately ₦5.79 billion. The high-profile case has intensified public scrutiny of how public funds are managed and the role of state officials in financial governance.
Adamu, a former branch manager of Polaris Bank Plc in Bauchi, was brought before Justice Emeka Nwite of the Federal High Court in Maitama alongside corporate entity Ayab Agro Products and Freight Company Limited. The defendants are jointly facing a six-count indictment that the prosecution says violates Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Prosecutors allege that between June and December 2023, Adamu conspired with others, some of whom remain at large, to launder funds purportedly meant for a government contract. The commission maintains that a loan of ₦4.65 billion was obtained from Polaris Bank for the supply of motorcycles to the Bauchi State Government, but no such motorcycles were ever delivered. Despite this, the funds were allegedly released and diverted through various accounts.
In one of the counts filed, the EFCC claims that Adamu, acting in concert with Ishaku Mohammed Aliyu, managing director of I.S. Makayye Investment Resources Limited, and Muntaka Mohammed Duguri, knowingly facilitated the conversion, concealment and transfer of the loan proceeds under false pretences. Another count asserts that Adamu personally acquired and transferred ₦976 million from diverted funds, knowing or having reasonable grounds to believe that they constituted proceeds of unlawful activity.
Speaking in court, prosecuting counsel Samuel I. Chime informed the judge that the matter was set for arraignment and requested that the charges be read to the defendants so that pleas could be entered. Following the reading of the indictment, Adamu and the corporate defendant both pleaded not guilty to all counts.
In response to the pleas, the prosecution sought that Adamu be remanded in custody pending the hearing of his bail application, citing the seriousness of the allegations. Defence counsel, Chief Gordy Uche, SAN, filed a formal bail application on behalf of his client, arguing for release on liberal terms, but the prosecution filed a counter affidavit opposing bail.
After hearing arguments from both sides, Justice Nwite adjourned the matter to January 2, 2026, for a ruling on the bail application. The judge ordered that Adamu remain in the custody of the EFCC pending the outcome of the bail hearing. The arraignment and remand reflect the court’s cautious approach to high-value financial crimes, particularly where there are concerns about flight risk or interference with ongoing investigations.
The EFCC’s case further alleges that Emmanuel Asomugha General Enterprises, the firm awarded the motorcycle supply contract, received the bank facility and then channelled the funds through accounts reportedly directed by Adamu and former Bauchi State Accountant-General Sa’idu Abubakar. According to investigators, portions of the diverted funds were moved to Ayab Agro Products and Freight Company Limited as part of the scheme.
The matter has attracted attention amid wider concerns about governance, transparency and accountability in the management of public resources. Analysts point out that allegations of this nature, involving senior government officials and high-value contracts, can erode public trust and strain relationships between state institutions and citizens. For the EFCC, securing a conviction in such cases is viewed as part of broader efforts to deter financial misconduct and strengthen rule-of-law norms.
Critics of the prosecution argue that high-profile cases risk being politicised, especially given the complex interplay between politics, public sector appointments and corruption investigations in Nigeria. Meanwhile, anti-corruption advocates have welcomed the EFCC’s move to pursue charges against powerful individuals, underscoring the need for impartial enforcement of the law regardless of a suspect’s position.
Bauchi State Government officials have not issued a formal response to the arraignment, and it remains unclear how the state executive has engaged with the unfolding legal process. Government leaders often face difficult political calculations when senior appointees are implicated in federal investigations, particularly where such actions could affect public perceptions or governance priorities.
As the case advances toward the bail ruling and subsequent trial, legal observers will be watching closely to gauge how the courts balance prosecutorial zeal with due process protections. The outcome could have implications for similar cases and for public confidence in the justice system’s capacity to handle allegations of large-scale financial crimes.
The arraignment of Yakubu Adamu marks another chapter in Nigeria’s persistent struggle against financial malpractice and corruption. Whether the prosecution will successfully demonstrate guilt beyond reasonable doubt remains to be seen, but the proceedings are poised to shape conversations about accountability, state-government relations, and institutional integrity in the months ahead.
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