The Economic and Financial Crimes Commission will on Tuesday arraign former Attorney-General of the Federation, Abubakar Malami, on money laundering charges before the Federal High Court, Abuja Division.
Malami will be arraigned alongside his son, Abubakar Malami, and Asabe Bashir, an employee of Rahamaniyya Properties Ltd linked to the former minister, before Justice Emeka Nwite on a 16-count charge.
The former AGF has been under investigation at the EFCC office since December 8, with the anti-graft agency accusing the defendants of carrying out multiple suspicious financial transactions and attempting to conceal the unlawful origin of billions of naira through bank accounts and property acquisitions across Abuja, Kano and Kebbi states.
According to the commission, the alleged offences were committed between 2015 and 2025, a period covering the eight years Malami served as Attorney-General of the Federation during the administration of late former President Muhammadu Buhari.
The EFCC alleged that Malami, his son and Bashir conspired to disguise the source of funds, acquire properties indirectly and retain large sums of money they allegedly knew were proceeds of unlawful activity, contrary to the Money Laundering (Prohibition and Prevention) Acts of 2011, as amended, and 2022.
In count one, the commission alleged that between July 2022 and June 2025, Malami and his son directed Metropolitan Auto Tech Limited to conceal N1,014,848,500 in a Sterling Bank account, knowing the funds were proceeds of unlawful activity.
Count two alleged that between September 2020 and February 2021, the duo concealed N600,013,460.40 through the same company. In count three, the EFCC alleged that in March 2021, Malami and his son retained N600 million as cash collateral for a N500 million Sterling Bank loan to Rayhaan Hotels Ltd, despite allegedly knowing the funds were illicit.
In count four, the commission alleged that in November 2022, Malami, his son and Bashir disguised N500 million used to purchase a luxury duplex in Maitama, Abuja. Count five alleged 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 accused the defendants of taking N1,362,887,872.96 from the same account between November 2022 and October 2025, knowing it was illicit, and of Malami and his son taking control of the account.
In count seven, the EFCC alleged that in November and December 2018, Malami and Bashir concealed N700 million used to purchase No. 3 Onitsha Crescent, Garki, Abuja, through Hamonia Hotels Ltd.
Count eight alleged that between September and December 2020, Malami, his son and Bashir concealed N850 million to acquire a property in Jabi District, Abuja, through Meethaq Hotels Ltd. Count nine stated that in February 2018, Malami and 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 alleged that between March and June 2021, they concealed N325 million used to acquire No. 1241B Asokoro District, Abuja. Count 12 alleged that between November 2015 and January 2016, Malami and Bashir concealed N120 million used to purchase No. 27 Efab Estate, Gwarimpa, Abuja.
Count 13 alleged that in November 2022, Malami, his son and Bashir conspired to conceal funds used to acquire a luxury duplex at Amazon Street, Maitama, Abuja.
In count 14, the EFCC alleged that between December 2016 and April 2022, Malami, Bashir and others “conspired to acquire additional properties” for Malami with proceeds of unlawful activity.
Count 15 alleged that between June 2023 and January 2023, Malami concealed N537 million used to purchase multiple properties across Abuja, Kebbi and Kano states. Count 16 alleged that between October 2018 and December 2021, Malami concealed N415 million used to acquire several properties in Abuja, Kebbi and Kano.
The commission said it plans to call several witnesses, including EFCC staff, bank representatives, bureau de change operators and other financial experts.
Key witnesses listed 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 alleging monumental corruption against the former minister, while Abdulrahman Musa Basheer is expected to provide evidence on the role of Rahamaniyya Properties Ltd in the alleged purchase of properties for Malami.
