Thursday, April 16, 2026
A witness of the Economic and Financial Crimes Commission on Thursday told the Federal High Court in Abuja how over N4.6 billion was allegedly diverted from the coffers of the Bauchi State Government.
The witness, John Ibrahim, an investigator with the commission and the first prosecution witness, gave his testimony in the ongoing trial of Bauchi State’s finance commissioner, Yakubu Adamu, before Justice Emeka Nwite.
While being led in evidence by the prosecution counsel, Ibrahim told the court that the EFCC received intelligence reports in May 2024 concerning alleged fraudulent activities involving Adamu and a company, Ayab Agro Products and Freight Company Ltd, which is standing trial as the second defendant.
According to him, the investigation revealed that an account belonging to I.S. Makayya Investment Resources Ltd, domiciled in Polaris Bank, was used to receive funds belonging to the Bauchi State Government. The funds were allegedly disbursed to various individuals and companies, including Ayab Agro Products.
He said further analysis of bank records showed inflows of N4 billion and N650 million into the account of Emmanuel Asomugha General Enterprises, also domiciled in Polaris Bank.
The witness explained that part of the funds originated from a loan granted to the company for the supply of 15,000 motorcycles to Bauchi State civil servants, a loan he said was approved while Adamu served as a branch manager at the bank.
Ibrahim told the court that the EFCC contacted relevant institutions, including the Corporate Affairs Commission, and discovered that Adamu is listed as a director in Ayab Agro Products.
He added that about N266 million was traced from the I.S. Makayya account to Ayab Agro Products’ account. The commission also obtained account statements from Fidelity Bank as part of its investigation.
According to the witness, Adamu was invited for questioning but initially failed to honour the invitation. He was later arrested in 2025 and gave a statement.
The witness said Adamu claimed the funds received by his company were repayments of a loan his agric business had granted to an individual. However, Ibrahim told the court that the defendant could not explain why an agriculture-based company was issuing such loans.
He further stated that the loan obtained by Emmanuel Asomugha General Enterprises was backed by an irrevocable standing payment order issued by the Bauchi State Government through the Office of the Accountant-General.
However, he alleged that the loan was not used for its intended purpose. Instead, transactions showed funds being moved to various companies and Bureau De Change operators.
Some of the individuals and entities invited during the investigation reportedly stated that they converted the funds into foreign currency and handed them over to certain officials.
The witness listed beneficiaries of the funds to include I.S. Makayya, Dnice Number City, Amy Trading Ltd, Umman Engineering, Assar Global Ltd, Inabi Nigeria Ltd, and Zailali Idriss, among others.
Several documents, including bank statements and correspondence with regulatory bodies, were tendered and admitted as evidence in court.
Justice Nwite adjourned the case until May 4, 2026, for continuation of the trial.