The Abuja Division of the Federal High Court, on Friday, admitted Bauchi Finance Commissioner Yakubu Adamu to a N500 million bail with two sureties in the like sum.

Justice Emeka Nwite, who ordered that the two sureties must be land owners within the Maitama, Asokoro, or Gwarimpa District of Abuja, said the property documents shall be verified by the court registry.

He directed that the sureties must depose to an affidavit of means.

The judge said the defendant and the sureties shall deposit their international 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.

Mr Nwite, who ordered that Mr Adamu should be remanded in the Kuje Correctional Centre, pending the perfection of his bail conditions, adjourned the matter until January 20 for commencement of the trial.

The judge held that the court was minded to exercise its discretionary power in favour of Mr Adamu, since the prosecution had no strong reason that the defendant would jump bail or interfere with the trial.

Justice Nwite held that the power to grant bail must be exercised judicially and judiciously, hence, the need for the defendant to be admitted to bail.

The EFCC had, in the charge marked: FHC/ABJ/CR/694/2025, named Mr Adamu and a firm, Ayab Agro Products and Freight Company Ltd, as the first and second defendants in the money laundering case involving about N4.6 billion.

The charge is dated and filed on December 19 by EFCC’s lawyer, Samuel Chime, of the Legal and Prosecution Department.

They were alleged to have facilitated and agreed to the conversion, transfer, conceal, and use of the 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 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 count read in part.

Count six accused Mr 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 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.

The defendants were arraigned on December 30, 2025, but pleaded not guilty to the six-count charge.

The judge then ordered Mr Adamu’s remand, pending the ruling on his bail application, which was argued the same day.

Mr 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.

(NAN)