EFCC charges ex-AGF Malami with money laundering, unlawful acquisitions

The EFCC brought 16 counts against the defendants, accusing them of engaging in multiple transactions, between 2015 and 2025, intended to conceal the unlawful origin of billions of naira through bank accounts and property acquisitions across Abuja, Kano, and Kebbi.

The Economic and Financial Crimes Commission (EFCC) has charged former Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, with money laundering, concealment, and unlawful acquisition of proceeds of illegal activity. The charges were filed at the Federal High Court in Abuja.

Mr Malami, who served as AGF throughout former President Muhammadu Buhari’s eight-year administration, will be tried alongside an employee of Rahamaniyya Properties Ltd, Bashir Asabe, and his son, Abubakar Malami. The trio are listed as the first, second, and third defendants in the case.

The EFCC brought 16 counts against the defendants, accusing them of engaging in multiple transactions, between 2015 and 2025, intended to conceal the unlawful origin of billions of naira through bank accounts and property acquisitions across Abuja, Kano, and Kebbi.

Speaking with PREMIUM TIMES, a source familiar with the case said Mr Malami has not yet been arraigned.

“We have not received a date yet, but the charges are ready, and he has been served with them. Because he has not entered his plea, we cannot proceed. We are charging him, his first wife, Hajia Asabe, and his son,” the source said on Wednesday.

The charges

The EFCC alleges that Malami, his son, and Mrs Asabe conspired to disguise the origin of funds, acquire properties indirectly, and retain sums they allegedly knew were proceeds of unlawful activity, in violation of the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.

In count one, the EFCC alleged that between July 2022 and June 2025, Mr Malami and his son directed Metropolitan Auto Tech Limited to conceal over N1 billion (N1,014,848,500) in a Sterling Bank account, knowing the funds were proceeds of unlawful activity.

Count two states that between September 2020 and February 2021, the duo allegedly concealed more than N600 million (N600,013,460.40) through the same company.

In count three, the commission alleged that in March 2021, Mr Malami and his son retained N600 million as cash collateral for a N500 million Sterling Bank loan to Rayhaan Hotels Ltd, despite knowing the funds were illicit.

Count four alleges that in November 2022, Mr Malami, his son, and Mrs Asabe disguised N500 million used to purchase a luxury duplex in Maitama, Abuja.

In count five, the EFCC claimed that between November 2022 and September 2024, the trio conspired to conceal N1,049,173,926.13 paid through Meethaq Hotels Ltd’s Union Bank account.

Count six states that between November 2022 and October 2025, Mr Malami and his son allegedly took control of N1,362,887,872.96 from the same account, knowing it was illicit.

Count seven alleges that in November–December 2018, Mr Malami and Mrs Asabe concealed N700 million used to purchase No. 3 Onitsha Crescent, Garki, Abuja (Hamonia Hotels Ltd).

In count eight, between September and December 2020, the duo and Mrs Asabe allegedly concealed N850 million to buy a property in Jabi District, Abuja (Meethaq Hotels Ltd).

Count nine states that in February 2018, Malami and Hajia Bashir acquired No. 3 Rhine Street, Maitama, Abuja, for N430 million, allegedly from unlawful sources.

In count 10, the pair allegedly concealed N210 million in February 2018 to purchase a property in Asokoro District, Abuja.

Count 11 alleges that between March and June 2021, they concealed N325 million used to acquire No. 1241B Asokoro District, Abuja.

In count 12, the EFCC stated that between November 2015 and January 2016, the duo concealed N120 million used to purchase No. 27 Efab Estate, Gwarimpa, Abuja.

Count 13 alleges that in November 2022, Mr Malami, his son, and Mrs Asabe conspired to hide funds used to acquire a luxury duplex at Amazon Street, Maitama, Abuja.

In count 14, between December 2016 and April 2022, Malami, Mrs Asabe, and others allegedly conspired to acquire additional properties for Mr Malami with proceeds of unlawful activity.

Count 15 states that between June 2023 and January 2023, Mr Malami allegedly concealed N537 million used to purchase multiple properties across Abuja, Kebbi, and Kano.

Finally, in count 16, the EFCC alleged that between October 2018 and December 2021, Mr Malami concealed N415 million used to acquire several properties in Abuja, Kebbi, and Kano.

Proposed witnesses

The EFCC plans to call several witnesses, including commission staff, bank representatives, Bureau de Change operators, and other financial experts. Key witnesses include Folarin Dare, Chinedu Eneanya, Sani Lukeman, Abdulrahman Musa Basheer, Jamilu Mohammed, and representatives of Zenith Bank Plc and Sterling Bank Plc.

Folarin Dare, Chinedu Eneanya, and Sani Lukeman are expected to testify on how the EFCC received intelligence and petitions of alleged monumental corruption against Mr Malami. Abdulrahman Musa Basheer is to provide evidence on Rahamaniyya Properties Ltd’s role in allegedly purchasing properties for Malami.

Multi-billion naira properties linked to Malami

Documents obtained by PREMIUM TIMES indicate that Mr Malami is linked to 41 properties across Kebbi, Kano, and Abuja, with a combined estimated value of N212.89 billion. The properties, which include hotels, schools, factories, and residences, were part of EFCC searches conducted at his homes and offices in Abuja and Kebbi State on 17 December.

The revelations come amid an ongoing investigation of Mr Malami by the Economic and Financial Crimes Commission (EFCC).

This newspaper had reported that the former attorney general raised the alarm over what he described as raids on his homes and offices in Abuja and Kebbi State by EFCC operatives.

In a statement issued by his media aide, Mohammed Doka, and shared on Mr Malami’s Facebook page, the former minister said EFCC operatives carried out “coordinated raids” on 17 December, allegedly without prior notice.

Mr Malami claimed the searches were retaliatory and linked to his earlier public reference to Chapter 9 of the Justice Ayo Salami Judicial Commission of Inquiry report, which he said indicted the EFCC chairman, Ola Olukoyede, over his tenure as the commission’s secretary between 2018 and 2020.

“These actions amount to intimidation, retaliation, and a threat to the rule of law,” the statement said.

However, Mr Malami did not provide evidence linking the searches to his comments on the Salami report.

The EFCC confirmed the operation but rejected claims that it was a raid.

Mr Malami served as Nigeria’s Attorney General of the Federation and Minister of Justice from 2015 to 2023 under former President Muhammadu Buhari.

A founding member of the All Progressives Congress (APC), he recently defected to the African Democratic Congress (ADC) and has declared his intention to contest the 2027 governorship election in Kebbi State.