The Economic and Financial Crimes Commission has concluded arrangements to arraign the Bauchi State Commissioner for Finance, Dr Yakubu Adamu, over an alleged N4.6bn money laundering scheme linked to a failed motorcycle supply contract.
Adamu will be docked alongside a company, Ayab Agro Products and Freight Company Ltd, before Justice Emeka Nwite of the Federal High Court, Abuja, on six counts of money laundering.
The charge, marked FHC/ABJ/CR/694/2025, was filed by the EFCC’s Legal and Prosecution Department on December 19, 2025, and signed by Samuel Chime, according to court documents sighted by PLATFORM TIMES.
The defendants were expected to take their plea on Monday, but proceedings could not go on due to the absence of the EFCC’s prosecuting counsel and the defendants.
However, a defence team led by Chief Gordy Uche (SAN) was present in court.
Justice Nwite subsequently adjourned the matter till December 24, 2025, for arraignment.
According to the charge sheet, Adamu, who is listed as the first defendant, allegedly committed the offence between June and December 2023, while serving as Branch Manager of Polaris Bank Ltd, Bauchi.
He was accused of conspiring with Ishaku Mohammed Aliyu, Managing Director of Makayye Investment Resources Ltd, and Muntaka Mohammed Duguri, both currently at large, to unlawfully convert and transfer N4.65bn provided by Polaris Bank.
The funds were allegedly released under the guise of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises.
Investigators alleged that the motorcycles were never supplied, but the funds were diverted, concealed, and circulated through third-party accounts.
One of the counts reads in part:
“You facilitated the conversion, transfer, concealment and use of funds amounting to N4,650,000,000, knowing that the funds were proceeds of unlawful activity.”
The EFCC further alleged that portions of the funds were transferred to Ayab Agro Products and Freight Company Ltd, including a transaction of N165.9m, which it said formed part of the proceeds of the alleged crime.
Count six accused Adamu and the co-conspirators of retaining and transferring proceeds of an unlawful act in violation of Sections 20(a) and 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022.
The offences, if proven, carry stiff penalties under Nigerian law.
The case adds to growing scrutiny over public finance management in Bauchi State, amid rising concerns over governance and accountability.
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