JUST IN: EX-AGF MALAMI, SON, ONE OTHER PLEAD NOT GUILTY TO 16-COUNT MONEY LAUNDERING CHARGE
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By: Sefiu Ajape
Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, his son, and an associate have pleaded not guilty to a 16-count charge bordering on alleged money laundering.
The defendants were arraigned on Tuesday before the Federal High Court in Abuja.
The Economic and Financial Crimes Commission (EFCC) instituted the charges against Malami, his son, Abubakar Abdulaziz Malami, and one Hajia Bashir Asabe, accusing them of large-scale money laundering and the unlawful acquisition of properties valued at over N8.7 billion.
According to the charge marked FHC/ABJ/CR/700/2025, the defendants are alleged to have conspired to conceal, disguise, and retain proceeds of illegal activities.
The EFCC alleged that the accused employed multiple bank accounts, corporate entities, and high-value real estate transactions over a period of nearly ten years to indirectly acquire and hide illicit funds.
The commission said the alleged offences were committed between 2015 and 2025, mainly within the Federal Capital Territory, Abuja, during Malami’s tenure as Attorney-General of the Federation.
Specifically, the EFCC claimed that Malami and his son used Metropolitan Auto Tech Limited to conceal N1.014 billion lodged in a Sterling Bank account between July 2022 and June 2025. They were also accused of depositing an additional N600.01 million between September 2020 and February 2021.
Properties listed in the charge include a luxury duplex on Amazon Street, Maitama, reportedly purchased for N500 million; a property on Onitsha Crescent, Garki, bought for N700 million; and another in Jabi District valued at N850 million. Other acquisitions include properties on Rhine Street, Maitama (N430 million), in Asokoro District (N210 million and N325 million), and at Efab Estate, Gwarimpa (N120 million).
The EFCC further alleged that Malami utilised illicit proceeds totalling N952 million to acquire several properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023, allegedly using proxies and corporate entities to conceal ownership.
Hajia Bashir Asabe, identified 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 offences contravene provisions of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022.
The EFCC is expected to call several witnesses, including investigators, bank officials, bureau de change operators, and company representatives, to prove its case.
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