By Ayomide Otitoju
The Economic and Financial Crimes Commission (EFCC) is set to arraign Abubakar Malami, SAN, former Attorney-General of the Federation and Minister of Justice, before the Federal High Court in Abuja on Tuesday.
Malami is expected to appear before Justice Emeka Nwite alongside his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, where they will enter pleas to a 16-count charge. The prosecution will be led by Chief J. S. Okutepa, SAN.
According to the EFCC charge sheet, the defendants are accused of large-scale money laundering and the illegal acquisition of properties worth over N8.7 billion. The indictment (FHC/ABJ/CR/700/2025) alleges that they conspired to conceal and retain proceeds from unlawful activities using multiple bank accounts, corporate entities, and high-value real estate transactions over nearly a decade, between 2015 and 2025, primarily in Abuja during Malami’s tenure as Attorney-General.
Specific allegations include:
Using Metropolitan Auto Tech Limited to conceal N1.014 billion in a Sterling Bank account from July 2022 to June 2025, and depositing an additional N600.01 million between September 2020 and February 2021.
Retaining N600 million in cash as collateral for a N500 million loan taken by Rayhaan Hotels Ltd from Sterling Bank, allegedly aware the funds were illicit.
Controlling N1.36 billion through the Union Bank account of Meethaq Hotels Ltd between November 2022 and October 2025, allegedly sourced from unlawful means.
Several charges relate to the acquisition of luxury properties in Abuja and other locations, allegedly to conceal ownership of illicit funds. Key properties include:
A duplex on Amazon Street, Maitama – N500 million
Property on Onitsha Crescent, Garki – N700 million
Property in Jabi District – N850 million
Additional real estate on Rhine Street (N430 million), Asokoro District (N210 million and N325 million), and Efab Estate, Gwarimpa (N120 million)
The EFCC further alleges Malami used N952 million in unlawful proceeds to acquire additional properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023, using proxies and corporate entities to obscure ownership. Hajia Bashir Asabe, reportedly an employee of Rahamaniyya Properties Ltd, is said to have facilitated these property deals.
The commission claims the defendants’ actions violate the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022. EFCC has listed investigators, bank officials, bureau de change operators, and company representatives as witnesses to support the case.
