Justice Emeka Nwite of the Federal High Court in Abuja has imposed strict bail terms on Yakubu Adamu, the Bauchi State Commissioner for Finance, regarding the alleged N4.6 billion fraud case initiated by the Economic and Financial Crimes Commission (EFCC).
On Friday, the judge granted bail to the commissioner in the amount of N500 million, requiring two sureties to back him.
These sureties must own properties in either the Maitama, Asokoro, or Gwarinpa districts of Abuja. Additionally, they are required to submit original copies of the Certificate of Occupancy for these properties to the court for the duration of the trial.
Moreover, the sureties must hand over their international passports to the court registrar, and the commissioner is prohibited from leaving Nigeria without the court’s explicit permission.
In his ruling on the bail request on Friday, Justice Nwite mandated that both the defendant and the two sureties must also provide recent passport photographs to the court.
Justice Nwite further ordered that until the bail conditions are fulfilled, the commissioner is to be held in Kuje Prison.
Chief Gordy Uche, SAN, representing the Bauchi commissioner and Ayab Agro Products and Freight Company Ltd, presented the bail application, which was contested by the EFCC’s attorney, Samuel Chime.
Adamu, along with Ayab Agro Products, faced a six-count indictment related to alleged money laundering involving N4.6 billion.
The EFCC’s charge, referenced as FHC/ABJ/CR/694/2025, lists Adamu and the company as the 1st and 2nd defendants.
This charge was filed on December 19 by the EFCC’s Legal and Prosecution Department.
In the first count, it is alleged that Adamu, while serving as the Branch Manager of Polaris Bank Ltd in Bauchi, conspired with Ishaku Mohammed Aliyu, the Managing Director of Makayye Investment Resources Ltd (currently at large), and Muntaka Mohammed Duguri (also at large) to commit the offense, some