The Federal High Court in Abuja on Friday granted bail to the 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 the commissioner bail in the sum of N500 million with two sureties.
Mr Adamu and his corporate co‑defendant, Ayab Agro Products and Freight Company Ltd, were arraigned on Tuesday on six counts, including conspiracy, money laundering and unlawful acquisition of funds.
Friday’s ruling may not immediately lead to Mr Adamu’s release from custody as he remains under another remand order which detained him in the Kuje Correctional Centre in Abuja till 5 January (Monday).
On Wednesday, a day after the commissioner was arraigned on money laundering charges, the EFCC arraigned him and a set of former and serving Bauchi State officials on $9.7 million terrorism financing charges before the same judge, who ordered their detention in prison pending the ruling on their bail application slated for Monday.
Arraignment and bail arguments
The EFCC arraigned Mr Adamu and his co-defendant earlier on Tuesday, accusing them of N4.65 billion money launderig. The EFCC alleged in the six charges that Mr Adamu, who is the prime suspect, committed the alleged offences in 2023 while he was the branch manager of Polaris Bank in Bauchi.
The prosecution alleged that the defendants channeled funds through a series of complex transactions to disguise its illicit origin from an unlawful activity. According to the EFCC, the defendants carried out the fraudulent scheme under the guise of financing the purchase of motorcycles for the Bauchi State Government. It said the motorcycles were never delivered.
However, the defendants denied all the charges during the arraignment.
Mr Adamu’s lawyer then presented his bail application, which the EFCC opposed.
In opposing the bail request, EFCC’s lawyer, Samuel Chime, cited the gravity of the allegations and the need to ensure the defendant’s presence throughout the trial.
In response, the defendant’s lawyer, Gordy Uche, a Senior Advocate of Nigeria (SAN), argued that the law gives the court discretionary powers to grant bail.
He said Mr Adamu’s continued detention hindered his ability to perform critical state duties, including overseeing the payment of Bauchi State workers’ salaries.
After their arguments, the trial judge ordered that Mr Adamu be remanded in Kuje Correctional Centre pending the ruling on the bail application today, Friday, 2 January.
Court grants commissioner bail, sets condtions
Delivering ruling on Friday, the judge said the decision to grant or refuse bail is based on different factors, including “the evidence against the accused, availability to stand trial, nature and gravity of the offence, likelihood of reoffending, interference with justice, criminal antecedents, and necessity for protective or medical measures.”
Mr Nwite explained further that the primary consideration in granting Mr Adamu bail was the likelihood of the defendant appearing for trial. In this case, he said, the prosecution “has not demonstrated that the applicant will abscond or interfere with witnesses.”
He granted Mr Adamu bail in the sum of N500 million with two sureties.
Judge Nwite ordered that the two sureties must own landed property in Asokoro, Maitama or Gwarinpa districts of Abuja and provide proof of ownership to the court.
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The judge further directed that Mr Adamu deposit his passport with the court and not travel abroad without permission, and that he and his sureties provide two recent passport photographs.
Mr Nwite said the bail conditions were designed to ensure the effective administration of justice. He directed that Mr Adamu remain in Kuje Correctional Centre until the bail conditions are fully met.
The matter was adjourned to 20 January for commencement of trial.
