The Economic and Financial Crimes Commission (EFCC) is set to arraign Abubakar Malami, SAN, former Attorney-General of the Federation and Minister of Justice, before the Federal High Court in Abuja on Tuesday.
Malami is expected to appear before Justice Emeka Nwite, where he will take his plea alongside his co-defendants. The prosecution team is to be led by Chief J. S. Okutepa, SAN.
According to the charge sheet obtained by Channels Television, the EFCC has instituted a 16-count charge against Malami, his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe.
The charges border on large-scale money laundering and the alleged unlawful acquisition of properties valued at over N8.7 billion.
The case, marked FHC/ABJ/CR/700/2025, alleges that the defendants conspired to conceal, disguise and retain proceeds of illegal activities.
The indictment claims the accused persons employed multiple bank accounts, corporate entities and high-value real estate transactions over nearly a decade to indirectly acquire the funds.
It further states that the alleged offences occurred between 2015 and 2025, largely within the Federal Capital Territory, Abuja, during Malami’s tenure as Attorney-General.
The EFCC alleges that Malami and his son used Metropolitan Auto Tech Limited to conceal N1.014 billion in a Sterling Bank account between July 2022 and June 2025, in addition to another N600.01 million allegedly deposited between September 2020 and February 2021.
They are also accused of retaining N600 million in cash as collateral for a N500 million loan secured by Rayhaan Hotels Ltd from Sterling Bank Plc, with the commission alleging that they knew the funds were proceeds of unlawful activities.
In a separate count, the EFCC claims that between November 2022 and October 2025, the defendants indirectly controlled N1.36 billion through the Union Bank account of Meethaq Hotels Ltd, allegedly sourced from illegal means.
Several counts relate to the alleged purchase of luxury properties in Abuja and other locations, purportedly aimed at concealing the source and true ownership of the funds.
The properties listed include a luxury duplex on Amazon Street, Maitama, acquired for N500 million; a property on Onitsha Crescent, Garki, purchased for N700 million; and another in Jabi District valued at N850 million. Other properties include real estate on Rhine Street, Maitama (N430 million); in Asokoro District (N210 million and N325 million); and at Efab Estate, Gwarimpa (N120 million).
The commission further alleges that Malami used illicit proceeds totaling N952 million to acquire multiple properties in Abuja, Kano and Birnin Kebbi between 2018 and 2023, allegedly through proxies and corporate entities to mask ownership.
Hajia Bashir Asabe, said to be an employee of Rahamaniyya Properties Ltd, is accused of playing a key role in facilitating the property transactions and disguising ownership on Malami’s behalf.
According to the EFCC, the alleged offences contravene provisions of the Money Laundering (Prohibition) Act, 2011 (as amended), and the Money Laundering (Prevention and Prohibition) Act, 2022.
The commission has lined up several witnesses, including investigators, bank officials, bureau de change operators and company representatives, to substantiate its case.