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EFCC arraigns Malami, son, wife over N8.7 billion money laundering

Maureen Ikpeama5 months ago5 months ago49112 mins

Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned former Attorney-General of the Federation and Minister of Justice Abubakar Malami on N8.7 billion money laundering charges at the Federal High Court in Abuja.

The EFCC arraigned him alongside his son, Abubakar Abdulaziz Malami, and his wife, Asabe Bashir. EFCC also described Ms Asabe as an employee of a firm linked to the former minister, Rahamaniyya Properties Ltd.

defendants, who attended Tuesday’s proceedings from EFCC’s custody, were escorted to the courtroom by the anti-corruption agency’s operatives. They also sat in-between the operatives in the courtroom until the commencement of proceedings which prompted them to move to the dock to take their pleas.

Defence lawyer Joseph Daudu, a Senior Advocate of Nigeria (SAN), had no objection to the request by the prosecution, led by Ekele Iheanacho, also a SAN, for the defendants to take their pleas on Tuesday.

The defendants subsequently pleaded not guilty to all 16 counts read to them by a court official.

The charges accused them of money laundering, involving concealment and disguise of the alleged illicit origins of N8.7 billion (N8,713,923,759.49). They allegedly used part of the alleged illicit funds to acquire properties in Abuja, Kano and Kebbi.

Malami and his two family members allegedly committed the offences between 2015 and 2025, a period that includes his eight years as the AGF during the late President Muhammadu Buhari’s administration.

After the defendants pleaded not guilty to the charges, defence lawyer, Mr Daudu, persuaded the judge to allow him to make an oral argument for his clients’ bail application. The prosecution opposed the suggestion, with Mr Iheanacho asking for the necessary time to respond to the written bail application already filed by the defendants.

In his ruling, the judge said it was only fair to allow EFCC to file its response to the written application.

The judge then ordered the defendants’ remand in the Kuje Correction Centre, Abuja, pending the hearing of their bail application, which he slated for 2 January.

Mr Malami, whom the EFCC had detained since 8 December, had made unsuccessful efforts to secure pre-trial bail and release from custody until Tuesday’s arraignment.

On 23 December, the Federal Capital Territory (FCT) High Court in Abuja granted him bail in the same conditions earlier set by the EFCC.

But both the EFCC and Mr Malami disagreed over what the conditions were. Mr Malami maintained that he already met the bail conditions before EFCC allegedly decided to revoke the bail. But the EFCC denied ever revoking the bail and maintained that the former minister had yet to fulfil the bail conditions to be released from pre-trial detention.

The developments that followed Tuesday’s arraignment of the defendants supersede previous decisions. With the trial judge’s decision to postpone the hearing of the defendants’ bail application until 2 January 2026,

The EFCC alleges that Malami, his son, and Ms Bashirconspired to disguise the origin of funds, acquire properties indirectly, and retain sums they allegedly knew were proceeds of unlawful activity, in violation of the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.

In count one, the EFCC alleged that between July 2022 and June 2025, Mr Malami and his son directed Metropolitan Auto Tech Limited to conceal over N1 billion (N1,014,848,500) in a Sterling Bank account, knowing the funds were proceeds of unlawful activity.

Count two states that between September 2020 and February 2021, the duo allegedly concealed more than N600 million (N600,013,460.40) through the same company.

In count three, the commission alleged that in March 2021, Mr Malami and his son retained N600 million as cash collateral for a N500 million Sterling Bank loan to Rayhaan Hotels Ltd, despite knowing the funds were from illicit origin.

Count four alleges that in November 2022, Mr Malami, his son, and wife disguised N500 million used to purchase a luxury duplex in Maitama, Abuja.

In count five, the EFCC claimed that between November 2022 and September 2024, the trio conspired to conceal more than N1 billion (N1,049,173,926.13) paid through Meethaq Hotels Ltd’s Union Bank account.

Count six states that between November 2022 and October 2025, Mr Malami and his son allegedly took control of N1.36 billion (N1,362,887,872.96} from the same account, knowing it was illicit.

Count seven alleges that in November–December 2018, Mr Malami and Mrs Asabe concealed N700 million used to purchase No. 3 Onitsha Crescent, Garki, Abuja (Hamonia Hotels Ltd).

In count eight, between September and December 2020, the duo and Mrs Asabe allegedly concealed N850 million to buy a property in Jabi District, Abuja (Meethaq Hotels Ltd).

Count nine states that in February 2018, Mr Malami and Ms Bashir acquired No. 3 Rhine Street, Maitama, Abuja, for N430 million, allegedly from unlawful sources.

In count 10, the pair allegedly concealed N210 million in February 2018 to purchase a property in Asokoro District, Abuja.

Count 11 alleges that between March and June 2021, they concealed N325 million used to acquire No. 1241B Asokoro District, Abuja.

In count 12, the EFCC stated that between November 2015 and January 2016, the duo concealed N120 million used to purchase No. 27 Efab Estate, Gwarimpa, Abuja.

Count 13 alleges that in November 2022, Mr Malami, his son, and Mrs Asabe conspired to hide funds used to acquire a luxury duplex at Amazon Street, Maitama, Abuja.

In count 14, between December 2016 and April 2022, Malami, Mrs Asabe, and others allegedly conspired to acquire additional properties for Mr Malami with proceeds of unlawful activity.

Count 15 states that between June 2023 and January 2025, Mr Malami allegedly concealed N537 million used to purchase multiple properties across Abuja, Kebbi, and Kano.

Finally, in count 16, the EFCC alleged that between October 2018 and December 2021, Mr Malami concealed N415 million used to acquire several properties in Abuja, Kebbi, and Kano.

The EFCC plans to call several witnesses, including commission staff, bank representatives, Bureau de Change operators, and other financial experts. Key witnesses include Folarin Dare, Chinedu Eneanya, Sani Lukeman, Abdulrahman Musa Basheer, Jamilu Mohammed, and representatives of Zenith Bank Plc and Sterling Bank Plc.

Folarin Dare, Chinedu Eneanya, and Sani Lukeman are expected to testify on how the EFCC received intelligence and petitions of alleged monumental corruption against Mr Malami. Abdulrahman Musa Basheer is to provide evidence on Rahamaniyya Properties Ltd’s role in allegedly purchasing properties for Malami.

Multi-billion naira properties linked to Malami

Documents obtained by PREMIUM TIMES indicate that Mr Malami is linked to 41 properties across Kebbi, Kano, and Abuja, with a combined estimated value of N212.89 billion.

The properties, which include hotels, schools, factories, and residences, were part of EFCC searches conducted at his homes and offices in Abuja and Kebbi State on 17 December.

However, the former attorney general raised alarm over what he described as raids on his homes and offices in Abuja and Kebbi State by EFCC operatives.

In a statement issued by his media aide, Mohammed Doka, and shared on Mr Malami’s Facebook page, the former minister said EFCC operatives carried out “coordinated raids” on 17 December, allegedly without prior notic