The Economic and Financial Crimes Commission (EFCC) is set to arraign a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, before the Federal High Court in Abuja over alleged money laundering running into billions of naira.
Sources within the anti-graft agency disclosed that all arrangements had been concluded for Malami’s appearance before Justice Emeka Nwite, where he is expected to take his plea alongside his co-defendants. As of late Sunday, the commission was said to be fully prepared for the arraignment, subject only to unforeseen developments, with the prosecution team expected to be led by Chief J. S. Okutepa, SAN.
The EFCC filed a 16-count charge against Malami, his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, accusing them of conspiracy, money laundering and the unlawful acquisition of properties valued at over ₦8.7 billion. The charge, marked FHC/ABJ/CR/700/2025, alleged that the defendants concealed, disguised, retained and indirectly acquired proceeds of unlawful activities through multiple bank accounts, corporate entities and high-value real estate transactions.
According to the charge sheet, the alleged offences were committed between 2015 and 2025, largely within the Federal Capital Territory, Abuja, during Malami’s tenure as the nation’s chief law officer.
The commission alleged that Malami and his son used Metropolitan Auto Tech Limited to conceal over ₦1.6 billion lodged in a Sterling Bank account between 2020 and 2025. They were also accused of retaining ₦600 million as cash collateral for a ₦500 million loan obtained by Rayhaan Hotels Ltd from Sterling Bank Plc, allegedly knowing 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 paid through the Union Bank account of Meethaq Hotels Ltd, which it described as illicit in origin.
Several counts relate to the alleged acquisition of luxury properties in Abuja and other locations, which the commission said were intended to disguise the source and beneficial ownership of the funds. These include payments running into hundreds of millions of naira for properties in Maitama, Garki, Jabi, Asokoro and Gwarimpa.
The EFCC further alleged that Malami utilised unlawful proceeds totalling about ₦952 million to acquire multiple properties in Abuja, Kano and Birnin Kebbi between 2018 and 2023, allegedly using proxies and corporate fronts to obscure ownership. Hajia Bashir Asabe, described as an employee of Rahamaniyya Properties Ltd, was accused of facilitating several of the property acquisitions and disguising ownership on Malami’s behalf.
The commission said the alleged offences contravened provisions of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022. It listed investigators, bank officials, bureau de change operators and company representatives among its proposed witnesses.
