A Federal High Court in Abuja has refused the bail applications filed by former Attorney-General of the Federation and Minister of Justice, ABUBAKAR MALAMI (SAN), his son ABDULAZIZ MALAMI, and HAJIA BASHIR ASABE, over alleged money laundering offences.
Justice EMEKA NWITE declined to grant bail, ruling that the prosecution must first formally respond to the application. He subsequently ordered that all three defendants be remanded at the NIGERIAN CORRECTIONAL SERVICE CENTRE, KUJE, in the Federal Capital Territory.
Earlier, counsel to the prosecution, KELECHI EKELE (SAN), opposed the bail request, describing it as an ambush that could not be addressed orally in court. Defence counsel JOSEPH DAUDU (SAN) had urged the court to admit the defendants to bail.
The ECONOMIC AND FINANCIAL CRIMES COMMISSION (EFCC) accused the defendants of conspiring to conceal the illicit origin of funds and properties located across ABUJA, KEBBI, AND KANO STATES. All the defendants pleaded NOT GUILTY to the charges.
According to the prosecution, Malami allegedly used METROPOLITAN AUTO TECH LTD to conceal over ₦1.6 BILLION in a Sterling Bank account between 2020 and 2025. Part of the funds was allegedly used as collateral for a ₦500 MILLION LOAN obtained by RAHAAN HOTELS LTD.
The federal government further alleged that the defendants disguised proceeds of crime through the purchase of several high-value properties, including luxury duplexes in MAITAMA, properties in GARKI, JABI, ASOKORO, GWARIMPA, and landed assets in KANO AND BIRNIN KEBBI.
Other allegations include the concealment of funds used to acquire hotels, residential buildings, plazas, commercial facilities, and large parcels of land through corporate entities and proxies between 2015 and 2025.
The prosecution maintained that the alleged acts violate provisions of the MONEY LAUNDERING ACT 2004, as amended, and insisted that the defendants should remain in custody pending the determination of their bail applications.
The matter was adjourned for further proceedings.
