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Money laundering

Jun 22, 2026

FRN vs Yakubu Adamu & 2 others

Humans

Yakubu Adamu
& 2 others

Money bag

N5,791,900,000.00
Amount allegedly laundered

Money bag

Case Summary
The accused, while acting as Branch Manager of Polaris Bank Plc, Bauchi, alongside Ishaku Mohammed Aliyu, Managing Director of I.S. Makayye Investment Resources Limited, and Muntaka Mohammed Duguri, both currently at large, allegedly conspired and committed money laundering by facilitating the conversion, transfer, concealment and use of the said sum, availed by Polaris Bank under the guise of financing the supply of motorcycles to Bauchi State Government through Emmanuel Asomugha General Enterprises, which motorcycles were never supplied, and thereby committed an offence contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.

Calendar

174
Day(s) since arraignment

Court house

Hon. Justice Emeka Nwite
Federal High Court, Maitama, Abuja

Case Information
Yakubu Adamu & 2 others
Presiding Judge & Designated Court
Hon. Justice Emeka Nwite, Federal High Court, Maitama, Abuja
Nature and Number of Charges
6-count charge bordering on money laundering.
Date of 1st Arraignment
Dec 30, 2025
Summary of Case
The accused, while acting as Branch Manager of Polaris Bank Plc, Bauchi, alongside Ishaku Mohammed Aliyu, Managing Director of I.S. Makayye Investment Resources Limited, and Muntaka Mohammed Duguri, both currently at large, allegedly conspired and committed money laundering by facilitating the conversion, transfer, concealment and use of the said sum, availed by Polaris Bank under the guise of financing the supply of motorcycles to Bauchi State Government through Emmanuel Asomugha General Enterprises, which motorcycles were never supplied, and thereby committed an offence contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022.
Defendant(s) and Plea entered on Arraignment
1. Yakubu Adamu (Former Branch Manager of Polaris Bank Plc) – Not guilty
2. Ayab Agro Products (Company) – Not guilty
3. Freight Company Limited (Company) – Not guilty
Defence Counsel(s)
1. Gordy Uche (Senior Advocate of Nigeria)
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. Samuel Chime (Lawyer)
Status of Case
On Trial
Stage of Trial
Prosecution Stage
Length of Trial
174 day(s)