The Economic and Financial Crimes Commission (EFCC) has filed a 16-count charge of money laundering against a former Attorney-General of the Federation, Abubakar Malami, SAN, his son, Abdulaziz Malami, and an employee of Rahamaniyya Properties Limited, Hajia Bashir Asabe.
According to the charges filed before a Federal High Court in Abuja, Malami is accused of laundering billions of naira through a network of companies and proxies to acquire choice properties in Abuja, Kebbi, Kano and other locations across the country.
The anti-graft agency alleged that the former AGF laundered about ₦9 billion to purchase several luxury properties and is required to account for approximately 30 houses valued at about ₦212.8 billion, most of which were allegedly acquired during his eight-year tenure in office between 2015 and 2023.
The EFCC further disclosed that it may invoke the Non-Conviction Asset Forfeiture provisions of its Establishment Act to seize some of the assets. Under the law, the commission has a 14-day window to invite interested parties to show cause why the properties should not be forfeited to the Federal Government.
Court documents revealed that Malami allegedly used Metropolitan Auto Tech Limited and other entities to conceal, retain, and disguise the origin of funds believed to be proceeds of unlawful activities. The charges detailed multiple transactions involving large cash movements, loan collaterals, and payments for high-value real estate in prime locations including Maitama, Asokoro, Garki, Gwarimpa, Jabi and Kano.
The offences, spanning between 2015 and 2025, are said to contravene provisions of the Money Laundering (Prohibition) Act 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act 2022.
If convicted, the defendants face severe penalties, including lengthy prison terms and the forfeiture of assets linked to the alleged crimes.
Below is a summary of the charge sheet filed before a Federal High Court in Abuja:
- Concealment of ₦1.014bn through Metropolitan Auto Tech Limited’s Sterling Bank account between July 2022 and June 2025.
- Concealment of ₦600.01m through the same account between September 2020 and February 2021.
- Retention of ₦600m as cash collateral for a ₦500m bank loan to Rayhaan Hotels Ltd in March 2021.
- Disguised payment of ₦500m for a luxury duplex in Maitama, Abuja, in November 2022.
- Conspiracy to disguise ₦1.049bn paid through Meethaq Hotels Ltd account between November 2022 and September 2024.
- Indirect control of ₦1.362bn through Meethaq Hotels Ltd account between November 2022 and October 2025.
- Concealment of ₦700m used to acquire property at Onitsha Crescent, Garki, Abuja, in 2018.
- Concealment of ₦850m for property purchase in Jabi District, Abuja, between September and December 2020.
- Indirect acquisition of property worth ₦430m at Rhine Street, Maitama, Abuja, in February 2018.
- Concealment of ₦210m used to purchase property in Asokoro District, Abuja.
- Concealment of ₦325m for property at Yakubu Gowon Crescent, Asokoro, between March and June 2021.
- Concealment of ₦120m for property purchase in Gwarimpa, Abuja, between 2015 and 2016.
- Conspiracy to conceal funds used to acquire a luxury duplex in Maitama in November 2022.
- Conspiracy to acquire multiple landed properties with proceeds of unlawful activities between 2016 and 2022.
- Concealment of ₦537m used to acquire properties in Abuja, Birnin Kebbi and Kano between 2022 and 2023.
- Concealment of ₦415m used to acquire properties in Abuja, Kebbi and Kano between 2018 and 2021.
