EFCC files 16 count charge accusing Malami, son and associate of laundering funds through accounts and property deals.

The Economic and Financial Crimes Commission (EFCC), barring any last-minute change, will today arraign a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, before the Federal High Court in Abuja.

Reliable sources within the anti-graft agency said all arrangements had been concluded to ensure Malami’s appearance before Justice Emeka Nwite, who is expected to take his plea alongside those of his co-defendants.

As of last night, the commission was said to be fully prepared for the arraignment, subject only to unforeseen developments.

The prosecution team is expected to be led by Chief J. S. Okutepa, SAN.

The EFCC had filed a 16-count charge against Malami, his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, alleging large-scale money laundering and the unlawful acquisition of properties valued at over N8.7 billion.

The charge, marked FHC/ABJ/CR/700/2025, accused the defendants of conspiring to conceal, disguise, retain, and indirectly acquire proceeds of unlawful activities through multiple bank accounts, corporate entities, and high-value real estate transactions over nearly a decade.

According to the charge sheet, the alleged offences were committed between 2015 and 2025, largely within the Federal Capital Territory, Abuja, during Malami’s tenure as the nation’s chief law officer.

The EFCC alleged 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, as well as an additional N600.01 million deposited between September 2020 and February 2021.

The defendants were also accused of retaining N600 million as cash collateral for a N500 million loan obtained by Rayhaan Hotels Ltd from Sterling Bank Plc, allegedly knowing the funds were proceeds of unlawful activity.

In another count, the commission alleged that between November 2022 and October 2025, the defendants indirectly controlled N1.36 billion paid through the Union Bank account of Meethaq Hotels Ltd, which it said was illicit in origin.

Several counts relate to the alleged acquisition of high-end properties in Abuja and other locations, purportedly to disguise the source and beneficial ownership of the funds.

These included payments of N500 million for a luxury duplex on Amazon Street, Maitama; N700 million for a property at Onitsha Crescent, Garki; and N850 million for a property in Jabi District.

Other alleged acquisitions included properties at Rhine Street, Maitama (N430 million); Asokoro District (N210 million and N325 million); and Efab Estate, Gwarimpa (N120 million).

The EFCC further alleged that Malami utilised unlawful proceeds totalling N952 million to acquire multiple properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023, using proxies and corporate fronts to obscure ownership.

Hajia Bashir Asabe, described as an employee of Rahamaniyya Properties Ltd, was alleged to have played a key role in facilitating the property acquisitions and disguising ownership on Malami’s behalf.

The commission said the alleged offences contravened provisions of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022.

It listed investigators, bank officials, bureau de change operators, and company representatives among its proposed witnesses.