The Economic and Financial Crimes Commission (EFCC) has filed a 16-count charge before the Federal High Court in Abuja against former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, over alleged money laundering and unlawful acquisition of properties valued at billions of naira.
The charges, filed in the Abuja Judicial Division of the Federal High Court, allege that between 2015 and 2025, the defendants conspired to launder and conceal the origin of substantial sums of money and used them to acquire various properties across the Federal Capital Territory and northern Nigeria.
Count 1 alleges that Malami and his son, between July 2022 and June 2025, “procured Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N1,014,848,500.00 (One Billion, Fourteen Million, Eight Hundred and Forty Eight Thousand, Five Hundred Naira) in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities” contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act 2022.
Count 2 alleges that between September 2020 and February 2021, while Malami was Attorney General, he and his son “procured Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N600,013,460.4 (Six Hundred Million, Thirteen Thousand, Four Hundred and Sixty Naira, Four Kobo) in the Sterling Bank Plc Account No. 0079182387” contrary to Section 18(c) of the Money Laundering Prohibition Act 2011.
In Count 3, the EFCC charges the duo with retaining “N600,000,000.00 (Six Hundred Million Naira) in Metropolitan Auto Tech Limited as cash collateral for a loan of N500,000,000.00 granted to Rayhaan Hotels Ltd by Sterling Bank Plc” in March 2021, knowing that the funds were proceeds of unlawful activities.
Count 4 extends allegations to Hajia Bashir Asabe, claiming that in November 2022, the trio “indirectly disguise[d] the unlawful origin of the aggregate sum of N500,000,000.00 (Five Hundred Million Naira) paid to Efab Properties Ltd for purchase of property known as luxury duplex at Amazon street, Plot No. 3011 within Cadastral Zone A06, Maitama District, Abuja in favour of Abubakar Malami SAN.”
The subsequent counts detail similar transactions across multiple properties and bank accounts:
Count 5 alleges a conspiracy to disguise “N1,049,173,926.13 (One Billion, Forty-Nine Million, One Hundred and Seventy-Three Thousand, Nine Hundred and Twenty-six Naira, Thirteen Kobo) paid through the Union Bank Plc account of Meethaq Hotels Ltd” between November 2022 and September 2024.
Count 6 alleges control of “N1,362,887,872.96 (One Billion, Three Hundred and Sixty Two Million, Eight Hundred and Eighty Seven Thousand, Eight Hundred and Seventy Two Naira, Ninety Six Kobo)” through Meethaq Hotels Ltd between November 2022 and October 2025.
Counts 7 to 12 detail multiple property acquisitions in Abuja, including No. 3 Onitsha Crescent, Area 11 Garki (Hamonia Hotels Ltd), Plot 683 Jabi District (Meethaq Hotels Ltd), No. 3 Rhine Street, Maitama, and No. 27 Efab Estate, Gwarimpa, with sums ranging from N120 million to N700 million, allegedly acquired using proceeds of unlawful activities.
Counts 13 to 16 further allege conspiracy and concealment in acquiring luxury properties, including a luxury duplex at Amazon Street, No. 26 Babbi Street, BUA Estate, Abuja, 4-bedroom bungalow, Brinin-Kebbi, and a commercial plaza in Kano, with amounts totaling hundreds of millions of naira.
The EFCC’s charge also lists a range of witnesses expected to testify, including EFCC investigators such as Folarin Dare, Chinedu Eneanya, and Sani Lukeman, representatives of Bureau De Change operators, and officials from Sterling Bank and Zenith Bank. The witnesses are expected to provide evidence on the investigation that led to the filing of charges, including documentation and financial transactions.
According to the proof of evidence filed by EFCC counsel, the offences span “procuring, conspiracy to launder proceeds of unlawful activity” contrary to the Money Laundering (Prohibition) Act, 2011, and the Money Laundering (Prevention and Prohibition) Act, 2022, as well as “concealing, disguising, and acquisition of the proceeds of unlawful activity.”
The accused are yet to be arraigned in court.
The EFCC has listed a battery of senior lawyers including Chief J.S. Okutepa SAN and E.E. Iheanacho SAN as counsel representing the commission.
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