The four defendants face a ten-count charge involving conspiracy, conversion of public funds, and alleged terrorism financing.
Justice Emeka Nwite of the Federal High Court in Abuja has scheduled January 5, 2026, to deliver his ruling on the bail applications of Bauchi State Commissioner for Finance, Yakubu Adamu, and three others who were arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of terrorism financing and money laundering.
On Wednesday, December 31, 2025, the EFCC arraigned Adamu, together with Balarabe Abdullahi Ilelah, Aminu Mohammed Bose, and Kabiru Yahaya Mohammed.
The four defendants face a ten-count charge involving conspiracy, conversion of public funds, and alleged terrorism financing.
They were brought before Justice Nwite on charges said to contravene Section 2(1) and Section 19(1)(d), and punishable under Section 19(2)(b) of the Money Laundering (Prevention and Prohibition) Act, 2022.
During proceedings, prosecution counsel Samuel Chime informed the court that the matter was slated for arraignment and requested that the charges be formally read to the defendants.
“We have a ten-count charge dated 30 December, 2025 and filed on the same day,” he said.
In one of the counts, Adamu is accused of receiving cash payments amounting to USD 6.95 million in 2024 outside the regulated financial system. This act is alleged to contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
In another count, Adamu, along with the Accountant-General of Bauchi State (currently at large), other civil servants, and signatories to government accounts, is further accused of conspiring between January and May 2024 to provide about USD 2.3 million in cash to Bello Bodejo and associates. The funds were allegedly approved by Governor Bala Abdulkadir Muhammed and believed to be intended for terrorism financing, in violation of the Terrorism (Prevention and Prohibition) Act, 2022.
The defendants pleaded “not guilty” to all the charges when they were read in court.
Following their plea, Chime requested a trial date, saying, “We will be asking for a date to enable us to open our case.”
However, counsel for the defendants informed the court that the defence had filed separate bail applications on behalf of all the defendants.
Responding, the prosecution counsel confirmed receipt of the bail applications, stating, “We have been served, we filed a joint counter affidavit yesterday, my lord, 30 December 2025.”
After listening to submissions from both parties, Justice Nwite adjourned the matter to January 5, 2026, for ruling on the bail applications and ordered that the defendants be remanded at the Kuje Correctional Centre pending the court’s decision.
On Tuesday, SaharaReporters reported that the EFCC arraigned Adamu before Justice Nwite over alleged money laundering offences involving ₦5,791,900,000.
Adamu was arraigned alongside Ayab Agro Products and Freight Company Limited on a six-count charge bordering on money laundering, contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the commencement of proceedings, prosecuting counsel, Samuel I. Chime, informed the court that the matter was slated for arraignment and requested that the charges be read to the defendants to enable them take their pleas.
One of the charges alleged that Adamu, while acting as Branch Manager of Polaris Bank Plc, Bauchi, conspired with Ishaku Mohammed Aliyu, Managing Director of I.S. Makayye Investment Resources Limited, and Muntaka Mohammed Duguri, both currently at large, between June and December 2023, to launder ₦4.65 billion.
The funds were allegedly availed by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises, which motorcycles were never supplied.
Another count accused Adamu of acquiring, using, retaining and taking possession or control of ₦976 million in 2023, paid into the account of I.S. Makayye Investment Resources Limited and subsequently transferred to several individuals and entities, knowing or having reasonable grounds to know that the funds were proceeds of unlawful activity linked to the diversion of the Polaris Bank facility.
After the charges were read, Adamu pleaded not guilty to all counts, hence, the prosecuting counsel urged the court to remand the defendant pending the determination of his bail application.
Defence counsel, Gordy Uche (SAN), thereafter applied for bail on behalf of the defendant, an application which was opposed by the prosecution.
After hearing arguments from both parties, Justice Nwite adjourned the matter to January 2, 2025, for ruling on the bail application and ordered that Adamu be remanded in EFCC custody.