A Federal High Court in Abuja ordered the remand of Bauchi State Commissioner for Finance, Yakubu Adamu, on Tuesday pending a bail ruling after he and Ayab Agro Products and Freight Company Ltd pleaded not guilty to a six-count money laundering charge involving N4.65 billion in diverted Polaris Bank funds meant for motorcycle supplies to the state government.
Justice Emeka Nwite approved the EFCC’s request to hold Adamu in their custody – rather than Kuje prison – for logistical ease ahead of Wednesday’s potential new arraignments with additional suspects, following defence counsel Gordy Uche SAN’s unsuccessful liberal bail push opposed by EFCC prosecutor Samuel Chime’s counter-affidavit; full ruling set for Jan. 2, 2026.
The charges, filed Dec. 19 under the 2022 Money Laundering Act, allege Adamu (as ex-Polaris Bauchi branch manager) conspired with fugitives Ishaku Aliyu and Muntaka Mohammed Duguri to conceal and circulate the funds through third-party accounts like I.S. Makayye Investment Resources Ltd, with no motorcycles delivered – highlighting risks to state worker salaries amid the probe.
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