EFCC traces 41 properties worth N213bn to ex-AGF Malami, initiates 16-count money laundering case

The Economic and Financial Crimes Commission (EFCC) has traced 41 properties to Abubakar Malami, former Attorney-General of the Federation and Minister of Justice, as part of ongoing investigations into alleged illicit financial activities.

The sprawling portfolio includes hotels, residential estates, schools, a printing press, and commercial structures across Kebbi, Kano, and the Federal Capital Territory (FCT), with a total estimated value of N212.9 billion.

In Kebbi State, assets valued at over N162 billion include Rayhaan University’s permanent, temporary, and third sites, staff quarters, Rayhaan Model Academy, primary and secondary schools, an agro-allied factory, mosque, printing press, energy tanker garage, and multiple family residences. Other holdings include properties under the Azbir brand and foundation buildings linked to Malami.

Kano State properties, valued at approximately N16 billion, include Zeennoor Hotel, Zeennoor Mosque, Rayhaan Hotel Kano, Rayhaan Gym Kano, and a residential property owned by Malami’s wife.

In Abuja, FCT, the assets—worth N34.7 billion—comprise a duplex in Maitama, Meethaq Hotel branches, 42 bungalows at Efab Estate, and Harmonia Hotels in Garki.

Alongside the asset tracing, the EFCC has filed a 16-count charge of money laundering against Malami and his son, Abdulaziz, citing violations of Sections 15, 18, and 21 of the Money Laundering (Prevention and Prohibition) Act.

The commission’s findings underscore the magnitude of the investigation and signal an intensified effort to scrutinise the financial dealings of public officials. Legal proceedings are ongoing, and the EFCC may pursue seizure of the linked assets depending on the outcome of the case.

See full list below:

Kebbi State Properties

Total valuation: N162,195,950,000.00

Rayhaan University and Education

Rayhaan University Permanent Site: N56,000,000,000.00

Rayhaan University Temporary Site: N37,800,000,000.00

Rayhaan University Third Site: N2,450,000,000.00

Rayhaan University Vice Chancellor House: N490,000,000.00

Rayhaan Model Academy: N11,200,000,000.00

Rayhaan Primary and Secondary School: N8,750,000,000.00

Rayhaan Agro Allied Factory & Commercial

Factory Buildings: N4,200,000,000.00

Factory Machines and Plants Units: N10,500,000,000.00

Factory Mosque: N2,450,000,000.00

Rayhaan Mill Staff Quarters (10 units): N1,487,500,000.00

Rayhaan Bustan Building: N3,150,000,000.00

Printing Press: N1,050,000,000.00

Al-Afiya Energy Tanker Garage: N2,450,000,000.00

Amasdul Oil and Gas Ltd Structure: N1,050,000,000.00

Rayhaan Radio: N78,750,000.00

Azbir Brand Properties

Azbir Hotel: N10,325,000,000.00

Gallery: N581,000,000.00

Gardens: N392,000,000.00

Mosque: N252,000,000.00

Azbir Clothing: N350,000,000.00

Azbir Pharmacy and Supermarket: N175,000,000.00

Residential and Foundations

Malami House GRA: N350,000,000.00

Malami House Behind Mobil: N490,000,000.00

Malami Residence Behind Cemetery: N350,000,000.00

Abdulaziz (First Son House): N1,659,000,000.00

Ahbiru (Second Son House): N2,989,000,000.00

Malami Support Organization Building ADC: N210,000,000.00

Kadi Malami Foundation Building: N56,000,000.00

Rayhaan Security House: N245,700,000.00

Uncompleted 3 Storey Complex: N665,000,000.00

Kano State Properties

Total valuation: N16,011,800,000.00

Zeennoor Hotel: N11,200,000,000.00

Zeennoor Mosque: N84,000,000.00

Zeennoor Old Hotel Building: N280,000,000.00

Rayhaan Hotel Kano: N2,240,000,000.00

Rayhaan Gym Kano: N1,225,000,000.00

Wife’s House (Ahmadu Bello Way, Kano): N982,800,000.00

FCT Abuja Properties

Total valuation: N34,685,000,000.00

Duplex at Amazon Street, Maitama: N5,950,000,000.00

Meethaq Hotel (Jabi Branch): N8,400,000,000.00

Meethaq Hotel (Maitama Branch): N12,950,000,000.00

42 Units of Bungalow at Efab Estate: N385,000,000.00

Harmonia Hotels, Area 11 Garki: N7,000,000,000.00

Grand total valuation: N212,892,750,000