Court Grants Bauchi Finance Commissioner ₦500m Bail in Money Laundering Case
A Federal High Court sitting in Abuja has granted bail to Yakubu Adamu, the Bauchi State Commissioner for Finance, in the sum of ₦500 million over an alleged money laundering case.
Ruling on the bail application on Friday, Emeka Nwite, the presiding judge, held that the offences for which Adamu is standing trial are bailable. The court ordered the defendant to produce two sureties in like sum as part of the bail conditions.
Justice Nwite further ruled that the sureties must be credible individuals with verifiable means and property within the jurisdiction of the court. The judge stressed that all bail conditions must be met before the defendant can be released from custody.
Adamu was earlier arraigned by the Economic and Financial Crimes Commission (EFCC) on charges bordering on alleged financial impropriety and money laundering. He pleaded not guilty to the charges when they were read to him.
The case has been adjourned to a later date for the commencement of trial, as the court directed both the prosecution and the defence to ensure readiness for accelerated hearing.
