EFCC Arraigns Bauchi Finance Commissioner Over ₦5.79bn Money Laundering

The Economic and Financial Crimes Commission (EFCC) has arraigned Yakubu Adamu, the Bauchi State Commissioner for Finance, over alleged ₦5.79 billion money laundering.
Adamu was arraigned on Tuesday before Justice Emeka Nwite of the Federal High Court sitting in Maitama, Abuja.
According to the EFCC, the defendant allegedly engaged in a series of financial transactions involving the movement, concealment, and conversion of public funds amounting to ₦5.79bn, in violation of the Money Laundering (Prevention and Prohibition) Act.
The anti-graft agency told the court that the alleged offences were committed while Adamu served as a senior banking official and later as a public office holder. The EFCC further stated that the funds were allegedly routed through multiple bank accounts to disguise their origin and ownership.
Adamu, who is a former branch manager of Polaris Bank in Bauchi, pleaded not guilty to all the charges read against him.
Following his plea, the prosecution asked the court for a trial date and urged the court to remand the defendant in custody pending the determination of his bail application.
However, counsel to the defendant applied for bail, arguing that his client would not jump bail and was ready to face trial. The defence also urged the court to exercise its discretion in granting bail on liberal terms.
Justice Nwite adjourned the matter to a later date for ruling on the bail application and ordered that the defendant be remanded pending further proceedings.
The case adds to ongoing efforts by the EFCC to clamp down on financial crimes and strengthen accountability in public office.