A FEDERAL High Court sitting in Abuja has admitted the Bauchi State Commissioner of Finance, Yakubu Adamu, to a ₦500 million bail bond with two sureties in like sum.
News Point Nigeria reports that ruling on the defendant’s bail application, Justice Emeka Nwite, who ordered that the two sureties must be land owners within Maitama, Asokoro or Gwarimpa District of Abuja, said the property documents shall be verified by the court registry.
He added that the sureties must also depose to an affidavit of means.
The judge further ruled that the defendant and the sureties shall deposit their passports with the court registrar and must not travel out of the country except with the leave of the court.
He also held that they shall deposit two passport photographs with the court registrar.
Justice Nwite, who ordered that Adamu should be remanded in Kuje Correctional Centre pending the perfection of his bail conditions, adjourned the matter to January 20, 2026, for the commencement of trial.
The EFCC had, in a charge, named Adamu and a firm, Ayab Agro Products and Freight Company Ltd, as first and second defendants in the money laundering case involving about ₦4.6 billion.
They were alleged to have facilitated and agreed to the conversion, transfer, concealment and use of funds in the sum of about ₦4.65 billion availed by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government.
These, it said, were through Emmanuel Asomugha General Enterprises, and were not supplied contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022,” the count read in part.
The defendant, Adamu and three other co-defendants, who are Bauchi State’s workers, are also facing another criminal charge bordering on alleged terrorism financing to the tune of $9.7 million before Justice Nwite.
