Abubakar Malami
By Our Reporter
The Economic and Financial Crimes Commission (EFCC) has arraigned
Abubakar Malami, the former Attorney-General of the Federation (AGF), Abubakar Malami
and Minister of Justice, his son, and one other individual over allegations of money.
Malami and his co-accused pleaded not guilty to the 16-count charge of alleged money laundering.
Malami, his son, Abubakar Malami and Hajia Bashir Asabe, an employee of Rahamaniyya Properties Ltd, a firm linked to the former minister, were arraigned before the Federal High Court in Abuja on Tuesday.
The Economic and Financial EFCC had filed a 16-count charge against the trio.
The charges include large-scale money laundering and the illegal acquisition of properties worth over N8.7 billion.
According to the charge, the EFCC accused the defendants of engaging in multiple suspicious financial transactions and attempting to conceal the unlawful origin of billions of naira through bank accounts and property acquisitions in Abuja, Kano and Kebbi states.
The EFCC alleged that Malami and his son used Metropolitan Auto Tech Limited to conceal N1.014 billion in a Sterling Bank account between July 2022 and June 2025, in addition to depositing N600.01 million through the same channel between September 2020 and February 2021.
The anti-graft agency alleged that Malami, his son and Asabe conspired to disguise the origin of illicit funds, acquire properties indirectly and retain proceeds they allegedly knew were derived from unlawful activities, in violation of the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.
The anti-graft agency also listed several properties allegedly acquired with illicit funds, including a luxury duplex on Amazon Street, Maitama, purchased for N500 million; a property on Onitsha Crescent, Garki, acquired for N700 million; and another in Jabi District bought for N850 million. Other properties include real estate on Rhine Street, Maitama (N430 million), two properties in Asokoro District (N210 million and N325 million), and a house at Efab Estate, Gwarimpa, valued at N120 million.
The EFCC further alleged that between 2018 and 2023, Malami used unlawful proceeds amounting to N952 million to acquire multiple properties in Abuja, Kano and Birnin Kebbi, allegedly through proxies and corporate entities in a bid to conceal ownership.
In count one, the EFCC alleged that between July 2022 and June 2025, Malami and his son directed Metropolitan Auto Tech Limited to conceal over N1.01 billion in a Sterling Bank account, knowing the funds were proceeds of unlawful activity.
Count two alleged that between September 2020 and February 2021, the duo concealed over N600 million through the same company.
In count three, the commission alleged that in March 2021, Malami and his son retained N600 million as cash collateral for a N500 million loan granted to Rayhaan Hotels Ltd by Sterling Bank, despite allegedly knowing the funds were illicit.
Count four accused Malami, his son and Asabe of disguising N500 million in November 2022 to purchase a luxury duplex in Maitama, Abuja.
In count five, the EFCC alleged that between November 2022 and September 2024, the defendants conspired to conceal over N1.04 billion paid through Meethaq Hotels Ltd’s Union Bank account.
Count six alleged that between November 2022 and October 2025, Malami and his son took control of about N1.36 billion from the same account, knowing it was illicit.
Count seven accused Malami and Asabe of concealing N700 million between November and December 2018 to purchase No. 3 Onitsha Crescent, Garki, Abuja, through Hamonia Hotels Ltd.
In count eight, the EFCC alleged that between September and December 2020, the defendants concealed N850 million to acquire a property in Jabi District, Abuja, via Meethaq Hotels Ltd.
Count nine stated that in February 2018, Malami and Hajia Bashir acquired No. 3 Rhine Street, Maitama, Abuja, for N430 million, allegedly from unlawful sources.
In count 10, the pair was accused of concealing N210 million in February 2018 to purchase a property in Asokoro District, Abuja.
Count 11 alleged that between March and June 2021, they concealed N325 million to acquire No. 1241B Asokoro District, Abuja.
In count 12, the EFCC alleged that between November 2015 and January 2016, the duo concealed N120 million to purchase No. 27 Efab Estate, Gwarimpa, Abuja.
Count 13 accused Malami, his son and Asabe of conspiring in November 2022 to hide funds used to acquire a luxury duplex on Amazon Street, Maitama, Abuja.
In count 14, the EFCC alleged that between December 2016 and April 2022, Malami, Asabe and others conspired to acquire additional properties with proceeds of unlawful activity.
Count 15 alleged that between June 2023 and January 2023, Malami concealed N537 million used to purchase multiple properties across Abuja, Kebbi and Kano.
In count 16, the commission alleged that between October 2018 and December 2021, Malami concealed N415 million used to acquire several properties in Abuja, Kebbi and Kano.
The EFCC said it intends to call several witnesses, including its officials, bank representatives, Bureau de Change operators and financial experts.
Key witnesses listed include Folarin Dare, Chinedu Eneanya, Sani Lukeman, Abdulrahman Musa Basheer, Jamilu Mohammed, as well as representatives of Zenith Bank Plc and Sterling Bank Plc.
According to the EFCC, some witnesses will testify on how intelligence reports and petitions alleging large-scale corruption against the former minister were received, while others are expected to give evidence on the role of Rahamaniyya Properties Ltd in allegedly acquiring properties on Malami’s behalf.
