EFCC To Arraign Former AGF Abubakar Malami Over N8.7 Billion Money Laundering Case
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 face Justice Emeka Nwite, where he will enter a plea alongside his co-defendants. The prosecution will be led by Chief J. S. Okutepa, SAN.
According to the charge sheet obtained by Channels Television, the EFCC has filed a 16-count charge against Malami, his son Abubakar Abdulaziz Malami, and associate Hajia Bashir Asabe. The charges include large-scale money laundering and illegal acquisition of assets valued at over N8.7 billion.
The case, filed as FHC/ABJ/CR/700/2025, alleges that the defendants conspired to conceal, disguise, and retain proceeds from unlawful activities. The commission claims that the funds were moved through multiple bank accounts, corporate entities, and high-value real estate transactions over a period of nearly ten years, primarily between 2015 and 2025, during Malami’s tenure as Attorney-General.
The EFCC alleges that Malami and his son used Metropolitan Auto Tech Limited to hide N1.014 billion in a Sterling Bank account from July 2022 to June 2025 and deposited an additional N600.01 million between September 2020 and February 2021. They are also accused of holding N600 million in cash as collateral for a N500 million loan taken by Rayhaan Hotels Ltd, with the commission asserting that the funds were proceeds of illegal activities.
Further allegations include controlling N1.36 billion via the Union Bank account of Meethaq Hotels Ltd between November 2022 and October 2025, which the EFCC says was acquired unlawfully. Several counts also relate to the purchase of high-end properties in Abuja and other locations to conceal the origin of the funds. Reported acquisitions include:
- A luxury duplex on Amazon Street, Maitama (N500 million)
- Property on Onitsha Crescent, Garki (N700 million)
- Property in Jabi District (N850 million)
- Real estate on Rhine Street, Maitama (N430 million)
- Properties in Asokoro District (N210 million and N325 million)
- Property at Efab Estate, Gwarimpa (N120 million)
The EFCC claims that Malami also used N952 million in illicit funds to acquire multiple properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023, often through proxies and corporate entities to obscure ownership. Hajia Bashir Asabe, reportedly an employee of Rahamaniyya Properties Ltd, is said to have facilitated these transactions on Malami’s behalf.
The commission maintains that the alleged actions violate the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022. A list of witnesses, including investigators, bank officials, bureau de change operators, and company representatives, has been submitted to support the case.