The Bauchi State Commissioner of Finance, Yakubu Adamu, has been granted N500 million bail in a N4.6 billion cash laundering case.
That is in line with particulars contained in a ruling delivered by Justice Emeka Nwite of the Federal Excessive Courtroom, Abuja, following an utility filed by Adamu by means of his authorized workforce.
The ruling comes days after the Commissioner was arraigned by the {Economic} and {Financial} Crimes Fee (EFCC) over allegations linked to a controversial N4.65 billion mortgage transaction involving Polaris Bank.
Adamu, a former Department Supervisor of Polaris Bank Plc in Bauchi State, had on December 30, 2025, pleaded not responsible to the fees introduced in opposition to him, paving the best way for the consideration of his bail utility.
Ruling on the bail utility filed by Adamu’s counsel, Godi Uche, SAN, Justice Nwite acknowledged that the grant of bail stays a discretionary energy of the court docket.
The EFCC named Adamu and Ayab Agro Merchandise and Freight Firm Ltd as the primary and second defendants within the go well with filed by EFCC counsel, Samuel Chime.
Based on the Fee, the defendants allegedly facilitated the conversion, switch, concealment, and use of funds amounting to about N4.65 billion obtained from Polaris Bank beneath the pretext of financing the provision of bikes to the Bauchi State Authorities by means of Emmanuel Asomugha Normal Enterprises.
The EFCC alleged that the bikes had been by no means equipped, regardless of representations made to the {bank} that the contract had been executed.
The offence is claimed to be opposite to Part 21(a) and punishable beneath Part 21 of the Cash Laundering (Prevention and Prohibition) Act, 2022.
Investigations reportedly confirmed that Emmanuel Asomugha Normal Enterprises obtained the mortgage facility from Polaris Bank, purportedly assured by the Bauchi State Authorities by means of Yakubu Adamu and the previous Accountant-Normal of the state, Sa’idu Abubakar.
The Fee additional alleged that the funds had been later moved to a number of accounts allegedly offered by Adamu, in violation of anti-money laundering legal guidelines.
The case highlights continued scrutiny of public {financial} administration and banking-related transactions involving state governments.
Allegations involving senior public officers and multi-billion-naira transactions increase broader issues round transparency, accountability, and oversight in public finance.
The end result of the trial may even have implications for a way state-backed ensures and business {bank} lending to authorities contractors are structured and monitored.
Nairametrics reviews that Adamu and three different Bauchi State civil servants are additionally going through a separate alleged $9.7 million terrorism financing cost filed by the EFCC.
The EFCC has intensified prosecutions involving public workplace holders as a part of its broader anti-corruption drive.
The case provides to a rising record of senior authorities officers at the moment standing trial over alleged {financial} crimes in Nigeria.
