Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, on January 2, 2026, ordered the continued remand of former Attorney General Abubakar Malami, SAN, his son Abubakar Abdulaziz Malami, and wife Hajia Bashir Asabe at Kuje Correctional Centre until January 7, 2026, pending a ruling on their bail applications. The Economic and Financial Crimes Commission (EFCC) prosecutes the trio on a 16-count charge involving alleged money laundering of N8,713,923,759.49, including conspiracy, concealment, and retention of illicit funds in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.
Prosecution counsel Ekele Iheanacho, SAN, informed the court the hearing focused on the defendants’ bail applications. Defense counsel J.B. Daudu, SAN, noted a recently served counter-affidavit and filed a response with 28-30 paragraphs challenging continued detention Iheanacho requested time to review the new filings, including a further affidavit and reply on points of law, leading to the adjournment.
Case Background
The defendants, arraigned on December 30, 2025, pleaded not guilty to all counts after prior EFCC custody—Malami for 22 days from December 8, and his wife and son for about a week. EFCC alleges suspicious transactions to disguise funds’ origins, linked to assets over N200 billion, including properties in Abuja, Kano, and Kebbi, plus a university and hotel. Specific counts detail concealment via companies like Metropolitan Auto Tech Limited (over N1 billion), Rayhaan Hotels loans (N600 million), and luxury duplex purchases (N500 million).
Key Allegations
1.Directed N1,014,848,500 concealment through Sterling Bank account (July 2022-June 2025).
2.Retained N600 million as loan collateral despite illicit knowledge (March 2021).
3.Disguised N500 million for Maitama duplex (November 2022).
4.Concealed N415 million for properties across states (2018-2021).
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EFCC plans to call witnesses including investigators, bankers, and bureau de change operators. The case highlights ongoing probes into high-profile figures’ financial dealings post-tenure.