Justice Emeka Nwite of the Federal High Court in Abuja has imposed stringent bail conditions on the Bauchi State Commissioner for Finance, Yakubu Adamu, who is standing trial over an alleged N4.6 billion fraud charge brought by the Economic and Financial Crimes Commission (EFCC).
The judge on Friday admitted Adamu to bail in the sum of N500 million, with two sureties required to stand for him.
According to the court, the sureties must own landed properties in Maitama, Asokoro, or Gwarinpa districts of Abuja and are to deposit the original Certificates of Occupancy of the properties with the court for the duration of the trial.
Justice Nwite further ordered the sureties to deposit their international passports with the court registrar, while the commissioner is barred from travelling outside the country without the express permission of the court.
Pending the fulfilment of the bail conditions, the court ordered that Adamu be remanded at the Kuje Correctional Centre.
The bail application was moved by Chief Gordy Uche, SAN, who appeared for the commissioner and a firm, Ayab Agro Products and Freight Company Ltd, but was opposed by EFCC counsel, Samuel Chime.
Adamu and Ayab Agro Products were arraigned on a six-count charge bordering on alleged money laundering involving N4.6 billion.
