A prosecution witness for the Economic and Financial Crimes Commission, John Ibrahim, on Thursday narrated before the Federal High Court in Abuja how more than N4.6 billion was allegedly misappropriated from Bauchi State government funds.
Mr Ibrahim, an EFCC investigator and the first prosecution witness (PW-1), gave his testimony before Justice Emeka Nwite while being examined by the commission’s counsel, M.O. Adebayo, SAN, in the ongoing trial of Bauchi State Commissioner for Finance, Yakubu Adamu.
Testifying in court, the witness said he was familiar with Mr Adamu and his firm, Ayab Agro Products and Freight Company Ltd, which is standing trial as the second defendant in the alleged money laundering case.
“My lord, sometime in May 2024, the commission received intelligence reports against the fraudulent activities of the 1st defendant and his company.
“The intelligence has it that the 1st defendant used an account called I. S. Makayya Investment Resources Ltd with account number: 4091670187 belonging to the same I. S. Makayya Investment Resources Ltd.
“The account is domiciled in Polaris Bank, where the 1st defendant was serving as branch manager in Bauchi.
“That the account was used to receive funds belonging to the state government and thereafter disbursed to individuals and companies, including a company called Ayab Agro Products and Freight Company Ltd, 2nd defendant,” he said.
The witness explained that the EFCC acted on the intelligence by requesting account statements from Polaris Bank for I.S. Makayya Investment Resources Ltd, which were subsequently reviewed as part of the investigation.
According to him, the analysis revealed significant inflows into another account.
“While analysing the statement, my lord, we saw an inflow of N4 billion and N650 million into the account of one Emmanuel Asomugha General Enterprises with account number 4091707386 domiciled in Polaris Bank, Bauchi.
“When we analysed the account of Emmanuel Asomugha General Enterprises, we discovered parts of the funds that were transferred to I. S. Makayya Investment Resources Ltd were a loan granted to Emmanuel Asomugha to supply 15, 000 motorcycles to Bauchi State’s civil servants.”
He told the court that the loan arrangement was approved and confirmed by Mr Adamu in his capacity as Branch Manager of Polaris Bank in Bauchi at the time.
The witness further stated that the managing director of I.S. Makayya Investment Resources Ltd was invited for questioning.
“We invited the MD of I. S Makayya made his statement, and we asked him whether he is a contractor in Bauchi State, and he said he is not.
“We asked him on what basis his account received over N900 million from the account of Emmanuel Asomugha General Enterprises.
“He stated that all the inflows and outflows into his account were carried out without his knowledge,” he said.
Mr Ibrahim added that investigators traced about N266 million transferred from the I.S. Makayya account into Ayab Agro Products’ account, prompting further inquiries with the Corporate Affairs Commission, which confirmed Mr Adamu as a director in the company.
He said the EFCC also obtained account records from Fidelity Bank relating to Ayab Agro Products, alongside mandate documents, all of which were analysed.
“We invited Emmanuel Asomugha General Enterprises, my lord. We interviewed him in the presence of his lawyer, and he volunteered a statement,” he said.
The witness told the court that Mr Adamu was invited to explain why funds meant for the procurement of motorcycles for Bauchi civil servants were paid into Ayab Agro Products’ account but failed to honour the invitation.
“We arrested him in 2025 in Bauchi and brought him to the commission and we interviewed him and he volunteered a statement,” he said.
He stated that Mr Adamu claimed the funds received by Ayab Agro Ltd were repayments of a loan his agricultural business had extended to an individual identified as Muntaka.
According to the witness, the defendant could not justify why an agricultural firm would engage in lending activities when questioned.
“That was our investigation, my lord,” he said.
On how the loan in question was secured, the witness explained that Emmanuel Asomugha General Enterprises applied for it and obtained backing from the state government.
“The state government, through the office of the Accountant-General, issued an irrevocable standing payment order to Polaris Bank that repayment should be made from the state government’s account domiciled in Polaris Bank.”
He alleged that although the government facilitated the loan, it was not utilised for its intended purpose.
“My Lord, when we analysed the account of the contractor, we only saw movement of money into the accounts of companies, including some BDC operators,” he said.
Mr Ibrahim added that some of the individuals invited during the investigation admitted converting the funds into foreign currency and handing them over to certain Bauchi State officials.
He named several beneficiaries of the transactions, including I.S. Makayya, Dnice Number City, Amy Trading Ltd, Umman Engineering, Assar Global Ltd, Inabi Nig Ltd, and Zailali Idriss.
Key documents, including correspondence from the Corporate Affairs Commission and various bank statements, were presented in court and admitted as exhibits.
Justice Nwite subsequently adjourned the case until May 4 for continuation of the trial.
