A compliance officer with Sterling Bank, David Ajoma, testified on Friday, March 7, 2026, before the Federal High Court in Abuja that Abdulaziz Abubakar Malami, son of former Attorney-General of the Federation Abubakar Malami, was the sole signatory to the bank account linked to Rayhan Hotels.
Ajoma, the first prosecution witness in the ongoing N8.7 billion money laundering trial, stated that while Abdulaziz operated the Rayhan Hotels account, one Aliyu Mohammed was the signatory to the account of Metropolitan Autotech Limited.
He emphasized that the former AGF, Abubakar Malami, was neither a signatory nor involved in any transactions through the companies’ accounts. Ajoma added that Malami’s name did not appear in the account opening documents for Rayhan Hotels or Metropolitan Autotech Limited, and neither he nor his wife, Hajia Bashir Asabe, featured in any recorded transactions.
The witness tendered a 214-page bank statement detailing inflows and outflows from the accounts, which was admitted in evidence as “Exhibit A Series.”
Ajoma explained that the records showed multiple payments in millions of naira from individuals and corporate bodies into the accounts at various times. He disclosed that Abdulaziz, in his capacity as Managing Director of Rayhan Hotels, applied for a N500 million loan facility from Sterling Bank.
He further confirmed that none of the payments originated from the Federal Ministry of Justice, the EFCC, the National Human Rights Commission, or any agency under Malami’s supervision during his tenure as AGF.
Ajoma stated that the bank did not flag any suspicious transactions to the Nigerian Financial Intelligence Unit, as none violated Central Bank of Nigeria regulations.
The testimony came during cross-examination by defence counsel Joseph Daudu (SAN).
Abubakar Malami, his son Abdulaziz, and Hajia Bashir Asabe are facing a 16-count charge of alleged money laundering involving N8.7 billion, said to have occurred between November 2015 and June 2025. The EFCC accuses them of conspiring to conceal proceeds of unlawful activities and using the funds to acquire properties in Abuja, Kebbi, Kano, and other locations.
The defendants pleaded not guilty to all charges.
Justice Joyce Abdulmalik adjourned the case to March 16, 2026, for a witness from Union Bank of Nigeria to testify.
