EFCC Files 16-Count Charge Against Malami, Son Over Alleged N8.7bn Money Laundering

The Economic and Financial Crimes Commission (EFCC) has taken a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), to court over alleged money laundering involving properties said to be worth more than ₦8.7 billion.

The case, filed at the Federal High Court in Abuja, also named Malami’s son, Abubakar Abdulaziz Malami, and a third defendant, Hajia Bashir Asabe.

The EFCC filed a 16-count charge accusing the three of laundering money and illegally acquiring assets.

According to court documents, marked FHC/ABJ/CR/700/2025, the EFCC claimed the defendants worked together to hide and control funds believed to come from illegal sources.

The commission said this was done through bank accounts, companies and property purchases over a period of about ten years.

The alleged activities reportedly took place between 2015 and 2025, mainly in Abuja, during the time Malami served as the country’s chief law officer.

In the charge signed by a prosecution team led by Chief J.S. Okutepa (SAN), the EFCC alleged that Malami and his son used a company, Metropolitan Auto Tech Limited, to disguise the source of ₦1.014 billion kept in a Sterling Bank account between July 2022 and June 2025.

The commission also claimed that an additional ₦600.01 million passed through the same account between September 2020 and February 2021.

The EFCC further alleged that the defendants kept ₦600 million as cash security for a ₦500 million loan issued by Sterling Bank to Rayhaan Hotels Ltd, even though they allegedly knew the money came from illegal activities.

Another count accused the defendants of indirectly taking control of ₦1.36 billion paid into a Union Bank account belonging to Meethaq Hotels Ltd between November 2022 and October 2025, despite allegedly being aware that the funds were unlawful.

Several of the charges relate to expensive property purchases in Abuja and other locations, which the EFCC said were meant to hide the true source and ownership of the money used.

The commission alleged that ₦500 million was paid to Efab Properties Ltd to buy a high-end duplex on Amazon Street in Maitama for Malami’s benefit.

It also claimed that ₦700 million was used to purchase a house at Onitsha Crescent in Garki, while ₦850 million was allegedly spent on a property in the Jabi area of Abuja.

Other allegations include the purchase of a property on Rhine Street in Maitama for ₦430 million and another property in Asokoro District for ₦210 million.

The EFCC also claimed that ₦325 million was used to buy a property on Yakubu Gowon Crescent in Asokoro and ₦120 million for a property at Efab Estate in Gwarimpa.

The EFCC also alleged that Malami used illegal funds totaling ₦537 million and ₦415 million to buy several properties in Abuja, Kano and Birnin Kebbi between 2018 and 2023.

According to the commission, these transactions were carried out using middlemen and company structures to hide the real owner.

Some of the charges also accuse the defendants of agreeing to launder money by deliberately disguising the source of funds used for land and property purchases between 2016 and 2024.

Hajia Bashir Asabe, who was described as a staff member of Rahamaniyya Properties Ltd, was accused of playing a key role in arranging property deals and concealing ownership on Malami’s behalf.

The EFCC said the alleged actions violate provisions of the Money Laundering (Prohibition) Act 2011, as amended, and the Money Laundering (Prevention and Prohibition) Act 2022.

The commission listed investigators, bank staff, bureau de change operators and company officials as witnesses it plans to call.

As at the time of filing this report, none of the defendants has been formally brought before the court, and a date for their arraignment is yet to be fixed by the Federal High Court in Abuja.

KanyiDaily recently reported how the EFCC uncovered 41 properties worth ₦212bn allegedly linked to Abubakar Malami.