EFCC Arraigns Bauchi Finance Commissioner Over N5.79 billion Money Laundering
Reported by Sele Media Africa| Ihuoma Amarachi
ABUJA, NIGERIA — The Economic and Financial Crimes Commission (EFCC) has formally arraigned Yakubu Adamu, the Bauchi State Commissioner for Finance, before a Federal High Court in Abuja on charges of alleged money laundering involving N5.79 billion. The charges were read before Justice Emeka Nwite on Tuesday, marking a major development in the ongoing anti‑graft crackdown in the country. [1]According to court documents and an EFCC statement, Adamu and a company — Ayab Agro Products and Freight Company Limited — were arraigned on a six‑count charge of money laundering contrary to Section 21(a) of the Money Laundering (Prevention and Prohibition) Act, 2022. Prosecuting counsel, Samuel I. Chime, informed the court that the charges relate to alleged offences carried out between June and December 2023 when Adamu was serving as Branch Manager of Polaris Bank Plc, Bauchi. [1]
The EFCC alleges that a Polaris Bank facility of N4.65 billion, purportedly granted to Emmanuel Asomugha General Enterprises for the supply of motorcycles to the Bauchi State Government, was never executed, yet funds were disbursed and later diverted. Additional counts claim that Adamu acquired and transferred N976 million through I.S. Makayye Investment Resources Limited and other entities, knowing the funds were linked to unlawful activity. [1]When the charges were read in court, Yakubu Adamu pleaded not guilty to all counts. The prosecution moved to remand him pending a decision on his bail application, which the court will consider at the next sitting. Critics and civil society groups have previously raised concerns over delays in arraignment and alleged procedural issues but welcomed the resumption of formal court proceedings. [
Sources:-
Punch Newspaper: EFCC arraigns Bauchi finance commissioner over N5.7bn money laundering— [Read the article on PunchNG](https://punchng.com/efcc-arraigns-bauchi-finance-commissioner-over-n5-7bn-money-laundering/?utm_source=chatgpt.com)- -TheCable: EFCC arraigns Bauchi finance commissioner over ‘N5.79bn money laundering’ — [Read the article on TheCable](https://www.thecable.ng/efcc-arraigns-bauchi-finance-commissioner-over-n5-79bn-money-laundering/?utm_source=chatgpt.com) – Leadership NG: CSOs flay detention of Bauchi finance commissioner — [Read the article on Leadership NG](https://leadership.ng/csos-flay-detention-of-bauchi-finance-commissioner/?utm_source=chatgpt.com)
