The Economic and Financial Crimes Commission (EFCC) has brought criminal charges against the Bauchi State Commissioner for Finance, Yakubu Adamu, for his alleged involvement in a massive financial fraud scheme totaling N5.7 billion.
Court Appearance and Charges
Adamu appeared before Justice Emeka Nwite at the Federal High Court in Maitama, Abuja, on Tuesday, December 30, 2025. He was arraigned alongside a company, AyabAgro Products and Freight Company Limited, on a six-count charge bordering on money laundering.
The defendant pleaded not guilty to all charges read against him in the courtroom.
Details of the Alleged Fraud
According to the prosecution, the offences were committed between June and December 2023. The EFCC alleged that Adamu, leveraging his former position as a Branch Manager of Polaris Bank in Bauchi, conspired with others still at large to obtain N4.65 billion from the bank.
The anti-graft agency stated that the funds were collected under the false pretense of supplying motorcycles to the Bauchi State government. Investigations, however, revealed that no motorcycles were ever supplied to the state.
In a separate but related charge, Adamu was accused of illegally receiving and transferring the sum of N976 million, knowing full well that the money constituted proceeds of unlawful activities.
Bail Hearing Adjourned
Following his plea, the EFCC counsel requested the court to remand the commissioner in custody pending the hearing of his bail application. Adamu's legal team vigorously opposed this request.
After listening to arguments from both sides, Justice Nwite ordered that Yakubu Adamu be remanded in the Kuje Correctional Centre until the court decides on his bail plea.
The judge subsequently adjourned the case to January 2, 2026, specifically for the ruling on the bail application.
