The Federal High Court in Abuja has ordered the remand of former Attorney-General of the Federation and Minister of Justice, ABUBAKAR MALAMI (SAN), at the Kuje Correctional Centre pending the hearing and determination of his bail application.
The trial judge, JUSTICE EMEKA NWITE, also ordered the remand of Malami’s co-defendants — his son, ABUBAKAR ABDULAZIZ MALAMI, and one of his wives, HAJIA BASHIR ASABE.
The order followed arguments from the defence team led by JOSEPH DAUDU (SAN) and the prosecution counsel, EKELE IHENEACHO (SAN).
The defendants are standing trial on a 16-count charge filed by the ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) over alleged money laundering and unlawful acquisition of properties valued at over ₦8.7 BILLION.
According to the charge, the defendants allegedly conspired to conceal, disguise, retain and indirectly acquire proceeds of unlawful activities through bank accounts, corporate entities and real estate transactions spanning nearly a decade.
The alleged offences were said to have occurred between 2015 AND 2025, largely in Abuja, during Malami’s tenure as the nation’s chief law officer.
The EFCC alleged that Malami and his son used METROPOLITAN AUTO TECH LIMITED to conceal ₦1.014 BILLION in a Sterling Bank account between July 2022 and June 2025, as well as an additional ₦600.01 MILLION between September 2020 and February 2021.
The commission further accused the defendants of retaining ₦600 MILLION as cash collateral for a ₦500 MILLION LOAN granted by Sterling Bank Plc to RAYHAAN HOTELS LTD, despite allegedly knowing the funds were proceeds of unlawful activity.
In another count, the EFCC alleged that between November 2022 and October 2025, the defendants indirectly took control of ₦1.36 BILLION paid through the Union Bank account of MEETHAQ HOTELS LTD, funds the commission claims were illicit.
The EFCC stated that the alleged acts violate provisions of the MONEY LAUNDERING (PROHIBITION) ACT, 2011 (AS AMENDED) and the MONEY LAUNDERING (PREVENTION AND PROHIBITION) ACT, 2022.
The anti-graft agency said it will rely on witnesses including investigators, bank officials, bureau de change operators and company representatives to prove its case.
