Shock And Outrage In Bauchi As Accountant-General Is Arraigned For Multi-Billion Naira Scandal

The two defendants, along with Abubakar’s company, Jasfad Resources Enterprise, face nine charges related to money laundering, diversion of public funds, and criminal misappropriation amounting to ₦8,380,626,430.95.

The arraignment took place before Justice O.A. Egwuatu at the Federal High Court in Abuja on Monday.

The charges allege that Abubakar, Jasfad Resources Enterprise, and Ibrahim Kashim (the former Secretary to the Bauchi State Government, currently at large) were involved in laundering ₦2.8 billion. This sum, part of Bauchi State’s funds, was reportedly transferred from the state’s Expenditure Account at United Bank for Africa to Jasfad Resources Enterprise between January 5, 2024, and December 10, 2024.

The charge reads in part: “That you, Aliyu Abubakar, Jasfad Resources Enterprise, and Ibrahim Kashim, between January 5, 2024, and December 10, 2024, committed an offense by laundering ₦2,808,595,100.00 of public funds from the Bauchi State Expenditure Account into Jasfad Resources Enterprise’s account.”

The defendants have pleaded not guilty to the charges.

In addition to Jaja and Abubakar, other individuals such as Ibrahim Kashim, Aminu Hammayo (Secretary to the Bauchi State Government), Saleh Mohammed, and Balarabe Abdullahi are implicated in the fraud but remain at large.

Following the pleas, the prosecution, led by Abba Mohammed, requested a trial date and sought to have the defendants remanded in a correctional facility.

Defense attorneys, Mohammed Ndayako (representing Jaja and Abubakar) and Chris Uche (representing the third defendant), applied for bail. Uche argued that Jaja, who had a crucial role in the state’s finances, was already on administrative bail and requested his release on self-recognition or that he be granted bail under the guarantee of the Bauchi State Attorney-General.

The prosecution opposed the bail application, citing concerns that Jaja, not residing in Abuja, could be a flight risk.

Justice Egwuatu, after hearing the arguments, granted bail to the defendants in the amount of ₦200 million each, with two sureties in the same amount. The sureties must reside in Abuja, with one being a federal government employee at or above grade level 17, and provide proof of tax payment for the past three years.