The Economic and Financial Crimes Commission (EFCC) has arraigned former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, alongside his son and wife, over alleged N8.7 billion money laundering offences.
Malami was docked with his son, Abubakar Abdulaziz Malami, and his wife, Asabe Bashir, before the Federal High Court in Abuja. The EFCC described Asabe as an employee of Rahamaniyya Properties Ltd, a company linked to the former minister.
The defendants were brought to court from EFCC custody and escorted by operatives of the anti-graft agency. They later moved to the dock to take their pleas after proceedings commenced.
Defence counsel, Joseph Daudu (SAN), raised no objection to the prosecution’s request that the defendants take their pleas. The prosecution team was led by Ekele Iheanacho (SAN).
All three defendants pleaded not guilty to the 16-count charge read to them.
According to the EFCC, the charges border on money laundering involving the concealment and disguise of the illicit origin of N8,713,923,759.49. The commission alleged that the funds were used to acquire several high-value properties in Abuja, Kano, and Kebbi states.
The alleged offences were said to have been committed between 2015 and 2025, a period that includes Malami’s tenure as attorney-general.
BAIL ISSUE
Following the plea, the defence applied orally for bail. The prosecution opposed the request, insisting it needed time to respond to the written bail application already filed.
In his ruling, the trial judge held that fairness demanded allowing the EFCC to respond. He subsequently ordered that the defendants be remanded at the Kuje Correctional Centre pending the hearing of their bail application.
DETAILS OF THE CHARGES
The EFCC alleged that Malami, his son, and his wife conspired to conceal and retain proceeds of unlawful activities, in violation of the Money Laundering laws.
The commission accused Malami and his son of concealing over N1 billion through a Sterling Bank account operated by Metropolitan Auto Tech Limited. It further alleged that another N600 million was concealed through the same channel.
The EFCC also claimed that N600 million was retained as cash collateral for a loan granted to Rayhaan Hotels Ltd, despite knowledge that the funds were illicit.
Other counts include allegations of disguising funds used to purchase luxury properties in Maitama, Asokoro, Jabi, Garki, Gwarimpa, and other parts of Abuja, as well as properties in Kano and Kebbi states. Several of the transactions were allegedly carried out through companies such as Meethaq Hotels Ltd and Hamonia Hotels Ltd.
WITNESSES AND ASSETS
The EFCC listed investigators, bank officials, Bureau de Change operators, and company representatives among its proposed witnesses. Banks expected to testify include Zenith Bank Plc and Sterling Bank Plc.
Investigators also linked Malami to 41 properties across Abuja, Kano, and Kebbi, with an estimated combined value of over N212 billion. The properties reportedly include hotels, schools, factories, and residential buildings.
Malami has denied all allegations, describing them as politically motivated, and has vowed to defend himself in court.
