BREAKING: EFCC charges ex-AGF Malami, son, associate with 16-count money laundering case
The Economic and Financial Crimes Commission (EFCC) has filed a 16-count money laundering charge against former Attorney-General of the Federation (AGF) Abubakar Malami, his son Abdulaziz Malami, and an employee of Rahamaniyya Properties Limited, Hajia Bashir Asabe.
In the first of three series of charges, the EFCC alleged that Malami laundered about ₦9 billion to acquire luxury houses across Abuja, Kebbi, Kano, and other locations. The ex-AGF is expected to account for approximately 30 properties valued at ₦212.8 billion, most acquired during his eight-year tenure as AGF from 2015 to 2023.
The commission may invoke the Non-Conviction Asset Forfeiture clause of its Establishment Act to seize some of the properties. The EFCC has a 14-day window to invite anyone with interest in the assets to show cause why they should not be forfeited to the federal government.
According to the charges, Malami allegedly used Metropolitan Auto Tech Limited to launder funds. The indictment details multiple instances between 2015 and 2025 in which the former AGF, his son, and Asabe are accused of disguising the unlawful origin of millions of naira through real estate and other transactions.
Some key allegations include procuring funds to purchase luxury properties, retaining cash collateral for loans, and disguising the source of money used to acquire high-value houses in Maitama, Asokoro, Gwarimpa, and other districts in Abuja, as well as properties in Kebbi and Kano.
The charges claim that the defendants conspired to launder funds through various bank accounts and properties, with several transactions involving amounts exceeding ₦1 billion. The properties reportedly include luxury homes, commercial buildings, and large parcels of land.
The EFCC disclosed that most of the acquisitions occurred while Malami held public office, raising concerns about the source of the funds. The agency is seeking to hold the former AGF and his associates accountable and recover allegedly illicitly acquired assets.
The ex-AGF, his son, and Asabe are expected to respond to the charges in court as the legal proceedings unfold, marking the first phase of what is expected to be a series of high-profile cases against the former AGF.
