The Economic and Financial Crimes Commission (EFCC) has filed a 16-count money laundering charge against former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), his son Abdulaziz Malami, and Hajia Bashir Asabe, an employee of Rahamaniyya Properties Limited.
According to court documents, the charges form the first batch in a three-series prosecution, detailing how Malami allegedly laundered about ₦9 billion through corporate fronts to acquire choice properties in Abuja, Kebbi, Kano, and other locations.
₦212.8 Billion Properties Under Scrutiny
The EFCC alleged that Malami must account for over 30 properties valued at approximately ₦212.8 billion, most of which were reportedly acquired between 2015 and 2023, during his eight-year tenure as Attorney-General of the Federation.
Investigators revealed that several of the assets were acquired through indirect transactions and third-party companies, allegedly to conceal the true source of the funds.
Possible Asset Forfeiture
The anti-graft agency disclosed that it may invoke the Non-Conviction Based Asset Forfeiture provision of the EFCC Establishment Act.
Under the law, the Commission has a 14-day window to invite interested parties to show cause why the assets should not be forfeited to the Federal Government.
How the Funds Were Allegedly Laundered
The charge sheet revealed that Malami and his co-defendants allegedly used Metropolitan Auto Tech Limited and Meethaq Hotels Limited to move and conceal illicit funds through multiple bank accounts.
The alleged offences span from 2015 to 2025, involving transactions ranging from ₦210 million to over ₦1.36 billion, used as:
- Cash collateral for bank loans
- Payments for luxury duplexes and hotels
- Acquisition of high-value residential and commercial properties
- Purchase of large expanses of land in Abuja, Kano, and Kebbi State
Properties Listed in the Charges Include:
- Luxury duplex at Amazon Street, Maitama, Abuja
- Properties in Asokoro, Gwarimpa, Jabi, Maitama, and Area 11, Abuja
- Multiple assets in Kano and Birnin Kebbi
- Hotels, plazas, warehouses, and over 100 hectares of land
Legal Basis of the Charges
The alleged offences violate provisions of:
- Money Laundering (Prevention and Prohibition) Act, 2022
- Money Laundering (Prohibition) Act, 2011 (as amended)
The charges include concealment of proceeds of unlawful activity, conspiracy, indirect acquisition of assets, and control of illicit funds.
Next Steps
The case is expected to proceed before the Federal High Court, where the EFCC will present evidence linking the transactions and properties to alleged unlawful proceeds.
The defendants are yet to publicly respond to the charges as of the time of filing this report.
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