NIGERIA: EFCC Files 16-Count Money Laundering Charge Against Ex-AGF Malami, Son, and Associate

By Ameenat Hamzat, Lagos, Nigeria

Court documents filed by the Economic and Financial Crimes Commission (EFCC) at the High Court of the Federal Capital Territory, Abuja, indicate that former Attorney-General of the Federation, Abubakar Malami, his son, Abdulaziz Malami, and Hajia Bashir Asabe, an employee of Rahamaniyya Properties Limited, have been charged with 16 counts of money laundering.

The filings allege that between 2015 and 2023, the accused laundered about ₦9 billion to acquire approximately 30 properties across Abuja, Kebbi, Kano, and other locations, with a total estimated value of ₦212.8 billion. Most of the properties were reportedly purchased during Malami’s eight-year tenure as Attorney-General of the Federation.

The EFCC may invoke the Non-Conviction Asset Forfeiture clause of its Establishment Act to seize some of the properties. According to the court documents, the commission has a 14-day window to ask anyone interested to show cause why the assets should not be forfeited to the federal government.

The charge documents detail how Malami and his son allegedly engaged Metropolitan Auto Tech Limited to conceal the origin of funds amounting to billions of naira. They also allege that funds were retained as cash collateral for bank loans and used to purchase several high-value properties, including luxury duplexes and estates in Maitama, Asokoro, and Gwarimpa.

Regarding the alleged offences, the court documents state, “That you, Abubakar Malami SAN, and Abubakar Abdulaziz Malami between July 2022 and June 2025 in Abuja within the jurisdiction of this Honourable Court did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N1,014,848,500.00 in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities.”

Another excerpt reads, “That you, Abubakar Malami SAN, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes in September 2024 in Abuja within the jurisdiction of this Honourable Court conspired to disguise the unlawful origin of the aggregate sum of N1,049,173,926.13 paid through the Union Bank Plc account of Meethaq Hotels Ltd Jabi savings account between November 2022 and September 2024.”

The documents further allege that some of the funds were used to acquire landed and commercial properties, including plots in BUA Estate, Brinin-Kebbi, and Gwarimpa, as well as other high-value real estate across Abuja and Kano.

According to the findings, properties traced to Kebbi State were valued at about ₦162.19 billion. These include multiple university sites and schools under the Rayhaan brand, with the permanent university site valued at ₦56 billion, a temporary site worth ₦37.8 billion, and a third site valued at ₦2.45 billion. Other education-related assets include a model academy valued at ₦11.2 billion and primary and secondary schools estimated at ₦8.75 billion.

Industrial and commercial assets in Kebbi State include an agro-allied factory with buildings and machinery valued at over ₦14.7 billion, a printing press estimated at ₦1.05 billion, an oil and gas structure worth ₦1.05 billion, and a tanker garage valued at ₦2.45 billion. Hospitality and commercial properties in the state include a hotel valued at ₦10.33 billion, alongside galleries, gardens, pharmacies and supermarkets.

Residential properties linked to the former minister in Kebbi State include multiple houses located in high-value areas, with individual properties valued between ₦350 million and ₦2.99 billion, including residences linked to his sons and affiliated organisations.

In Kano State, the EFCC traced properties valued at approximately ₦16.01 billion. These include hotels collectively valued at over ₦13.7 billion, a mosque, a gym facility and a private residence located along Ahmadu Bello Way.

Properties linked to Malami in the Federal Capital Territory were valued at about ₦34.69 billion. These include two luxury hotels valued at ₦21.35 billion, a duplex in Maitama worth ₦5.95 billion, a hotel in Garki valued at ₦7 billion, and multiple housing units in Efab Estate.

The Federal Government has filed a 16-count charge against Abubakar Malami and his son, Abdulaziz Malami, accusing them of offences contrary to Sections 15, 18 and 21 of the Money Laundering (Prevention and Prohibition) Act.

The investigation remains ongoing as authorities continue to review the circumstances surrounding the acquisition of the assets.