The Economic and Financial Crimes Commission (EFCC) is poised to arraign a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, today before the Federal High Court in Abuja over allegations of large-scale money laundering and illicit property acquisitions amounting to about ₦8.7 billion.
Sources at the anti-graft agency said all logistics had been finalised for Malami’s appearance before Justice Emeka Nwite, who is expected to take the pleas of the former minister and his co-defendants, subject only to any last-minute developments.
The EFCC’s prosecution team is expected to be led by Chief J. S. Okutepa, SAN.
In the 16-count charge filed before the court, the commission accused Malami, his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, of conspiring to conceal and disguise proceeds of unlawful activities through complex banking transactions, corporate fronts and high-value real estate deals.
The charge, marked FHC/ABJ/CR/700/2025, alleged that the offences were committed between 2015 and 2025, mainly in the Federal Capital Territory, Abuja, during Malami’s tenure as the nation’s chief law officer.
According to the EFCC, Malami and his son allegedly used Metropolitan Auto Tech Limited to launder ₦1.014 billion deposited in a Sterling Bank account between July 2022 and June 2025, in addition to ₦600.01 million paid into the same bank between September 2020 and February 2021.
The commission further alleged that the defendants retained ₦600 million as cash collateral for a ₦500 million loan obtained by Rayhaan Hotels Ltd from Sterling Bank Plc, despite allegedly knowing that the funds were proceeds of unlawful activity.
In another count, the EFCC claimed that between November 2022 and October 2025, the defendants indirectly controlled ₦1.36 billion that passed through the Union Bank account of Meethaq Hotels Ltd, which it said was illicit in origin.
Several of the counts relate to the alleged purchase of luxury properties in Abuja and other locations, purportedly to mask the source and ownership of the funds.
These include the acquisition of a duplex on Amazon Street, Maitama, for ₦500 million; a property on Onitsha Crescent, Garki, for ₦700 million; and a property in Jabi District valued at ₦850 million.
Other alleged purchases listed by the EFCC include properties on Rhine Street, Maitama (₦430 million); in Asokoro District (₦210 million and ₦325 million); and at Efab Estate, Gwarimpa (₦120 million).
The anti-graft agency also alleged that Malami deployed illicit funds totalling ₦952 million to acquire multiple properties in Abuja, Kano and Birnin Kebbi between 2018 and 2023, allegedly using proxies and corporate entities to conceal beneficial ownership.
Hajia Bashir Asabe, described as an employee of Rahamaniyya Properties Ltd, was accused of playing a central role in facilitating the property acquisitions and disguising ownership on Malami’s behalf.
The EFCC said the alleged offences contravened provisions of the Money Laundering (Prohibition) Act, 2011 (as amended), and the Money Laundering (Prevention and Prohibition) Act, 2022.
Investigators, bank officials, bureau de change operators and representatives of relevant companies are listed among the prosecution’s proposed witnesses.
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