EFCC arraigns Bauchi finance commissioner Yakubu Adamu over alleged ₦5.7bn money laundering linked to unexecuted motorcycle supply deal.

EFCC Arraigns Bauchi Finance Commissioner Over Alleged ₦5.7 Billion Money Laundering


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The Economic and Financial Crimes Commission (EFCC) has arraigned the Bauchi State Commissioner for Finance, Yakubu Adamu, before the Federal High Court in Abuja over alleged money laundering involving ₦5.7 billion.


Adamu, who is also a former Branch Manager of Polaris Bank Plc in Bauchi, was brought before Justice Emeka Nwite at the Maitama division of the court on Tuesday, December 30, 2025. He was arraigned alongside Ayab Agro Products and Freight Company Limited on a six-count charge bordering on money laundering under the Money Laundering (Prevention and Prohibition) Act, 2022.



According to the EFCC, the charges stem from a loan facility of ₦4.65 billion granted by Polaris Bank for the supply of motorcycles to the Bauchi State Government. Investigators allege that the contract was never executed despite claims that the motorcycles had been delivered.


The prosecution alleged that between June and December 2023, Yakubu Adamu conspired with other individuals, some of whom are currently at large, to facilitate the transfer, concealment, and diversion of the funds under the pretense of executing the supply contract.


One of the counts further accused Adamu of knowingly acquiring and controlling ₦976 million, which was allegedly moved through multiple accounts linked to the unexecuted transaction.




At the arraignment, prosecution counsel Samuel I. Chime requested that the charges be read to the defendant so his plea could be taken. Adamu pleaded not guilty to all six counts.


Following the plea, the EFCC applied for his remand pending the determination of his bail application. His counsel, Gordy Uche, SAN, applied for bail, a move strongly opposed by the prosecution.


After hearing arguments from both sides, Justice Nwite ordered that Adamu be remanded in EFCC custody and adjourned the matter to January 2, 2026, for a ruling on the bail application.




EFCC investigations revealed that Emmanuel Asomugha General Enterprises, the firm awarded the motorcycle supply contract, secured the loan from Polaris Bank, allegedly with a guarantee from the Bauchi State Government.


However, investigators discovered that no motorcycles were ever supplied, despite documentation presented to the bank suggesting otherwise. The funds were reportedly disbursed and later transferred across several accounts.


In a statement to investigators, Emmanuel Asomugha reportedly said the funds were received through Yakubu Adamu and the former Accountant-General of Bauchi State, Sa’idu Abubakar, and that he was instructed to move the money to accounts provided to him.


Further findings showed that Ayab Agro Products and Freight Company Limited, now a co-defendant, received part of the allegedly diverted funds.




The case has once again raised concerns about public finance management, banking oversight, and accountability in government-backed transactions. As the trial continues, many Nigerians will be watching closely to see how the court handles a case involving such a significant sum of public funds.


The EFCC says investigations are ongoing, and efforts are being intensified to apprehend other suspects linked to the alleged scheme.

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