Malami faces EFCC arraignment today over alleged ₦8.7bn laundering, property deals

The Economic and Financial Crimes Commission (EFCC) is expected 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 alleged money laundering and illicit property acquisitions valued at about ₦8.7 billion.

Sources familiar with the matter said preparations for the arraignment had been completed, with Malami billed to appear before Justice Emeka Nwite alongside his co-defendants, unless disrupted by any last-minute development.

The prosecution is expected to be led by Chief J. S. Okutepa, SAN.

The anti-graft agency has filed a 16-count charge against Malami, his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, accusing them of conspiring to launder funds allegedly derived from unlawful activities through bank transactions, corporate entities and high-value real estate purchases.

The charge, marked FHC/ABJ/CR/700/2025, alleged that the defendants engaged in schemes to conceal, disguise, retain and indirectly acquire proceeds of crime between 2015 and 2025, largely within the Federal Capital Territory, Abuja, during Malami’s tenure as Nigeria’s chief law officer.

According to the EFCC, Malami and his son allegedly used Metropolitan Auto Tech Limited to conceal ₦1.014 billion deposited in a Sterling Bank account between July 2022 and June 2025, as well as another ₦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 channelled through the Union Bank account of Meethaq Hotels Ltd, which it said originated from illicit sources.

Several of the charges relate to the alleged acquisition of luxury properties in Abuja and other locations, allegedly to obscure the true source and ownership of the funds.

Among the properties listed are a duplex on Amazon Street, Maitama, allegedly purchased for ₦500 million; a property on Onitsha Crescent, Garki, acquired for ₦700 million; and a property in Jabi District valued at ₦850 million.

Other alleged purchases include properties on Rhine Street, Maitama (₦430 million); in Asokoro District (₦210 million and ₦325 million); and at Efab Estate, Gwarimpa (₦120 million).

The EFCC also alleged that Malami deployed illicit funds totalling ₦952 million to acquire additional properties in Abuja, Kano and Birnin Kebbi between 2018 and 2023, allegedly using proxies and corporate fronts to conceal beneficial ownership.

Hajia Bashir Asabe, described in the charge as an employee of Rahamaniyya Properties Ltd, was accused of playing a key role in facilitating the property transactions and disguising ownership on Malami’s behalf.

The commission said the alleged acts contravened provisions of the Money Laundering (Prohibition) Act, 2011 (as amended), and the Money Laundering (Prevention and Prohibition) Act, 2022.

The EFCC listed investigators, bank officials, bureau de change operators and representatives of relevant companies among the witnesses expected to testify during the trial.