The Federal High Court in Abuja on Friday granted bail to Bauchi State Commissioner for Finance, Yakubu Adamu, who is facing N4.65 billion money laundering charges brought against him by the Economic and Financial Crimes Commission (EFCC).
Judge Emeka Nwite granted Adamu bail in the sum of N500 million, with two sureties of equal value. The court also imposed additional conditions, including the surrender of his international passport and obtaining the court’s permission before traveling abroad. The measures are designed to guarantee his appearance throughout the trial.
Adamu and his corporate co‑defendants, Ayab Agro Products and Freight Company Ltd, were arraigned on Tuesday on six counts, including conspiracy, money laundering, and unlawful acquisition of funds.
On Wednesday, a day after his arraignment on money laundering charges, the EFCC also arraigned him and a group of former and serving Bauchi State officials on $9.7 million terrorism financing charges before the same judge, who ordered their continued detention pending a ruling on their bail application scheduled for Monday.
According to the EFCC, the N4.65 billion allegedly laundered was approved for the procurement of motorcycles for the Bauchi State Government but was diverted through multiple accounts, even though the contract was reportedly not executed. Prosecutors said Adamu, who was the prime suspect, allegedly committed the offences in 2023 while serving as branch manager of Polaris Bank in Bauchi.
The defendants pleaded not guilty to all charges. Following the arraignment, Adamu’s lawyer filed a bail application, which the EFCC opposed. EFCC counsel, Samuel Chime, argued that the gravity of the allegations required strict controls to ensure the defendant’s presence throughout the trial.
In response, the defendant’s lawyer, Gordy Uche, SAN, maintained that the court has discretionary powers to grant bail. He further argued that Adamu’s continued detention was affecting his ability to perform critical state duties, including overseeing the payment of Bauchi State workers’ salaries.
After hearing arguments, Judge Nwite ordered that he remain at Kuje Correctional Centre until the bail conditions are fully met.
In his ruling on Friday, the judge explained that decisions on bail depend on factors such as the evidence against the accused, likelihood of absconding, potential interference with witnesses, criminal history, and necessity for protective measures.
The judge noted that the primary consideration in granting bail was the likelihood of Adamu appearing for trial, adding that the prosecution had not shown any risk of absconding or witness tampering.
Under the bail terms, Adamu is required to provide two sureties who own landed property in Abuja’s high-value districts and submit proof of ownership. He must deposit his international passport with the court, seek permission before traveling abroad, and provide two recent passport photographs along with his sureties.
Judge Nwite said the conditions were designed to ensure the effective administration of justice. The trial is now scheduled to commence on 20 January.
