By Taiye Agbaje | Abuja, Dec. 30, 2025
The Economic and Financial Crimes Commission (EFCC) is set to arraign former Attorney-General of the Federation (AGF), Abubakar Malami, SAN, on Tuesday, marking a significant escalation in Nigeria’s fight against high-profile corruption. Malami will face a 16-count money laundering charge before Justice Emeka Nwite at the Federal High Court in Abuja, alongside his son, Abubakar Malami, and Bashir Asabe, an employee of Rahamaniyya Properties Ltd, a firm linked to the former minister.
This development follows Malami’s detention and investigation at the EFCC’s headquarters since December 8, 2025. The charges span the period from 2015 to 2025, encompassing the entirety of Malami’s tenure as the nation’s chief law officer under former President Muhammadu Buhari. This temporal scope raises profound questions about the alleged misuse of office and the mechanisms for oversight during that administration.
Anatomy of the Charges: A Pattern of Concealment and Acquisition
The EFCC’s charge sheet, a detailed document obtained by the News Agency of Nigeria (NAN), alleges a sophisticated scheme to disguise the illicit origin of billions of naira through corporate vehicles and luxury real estate acquisitions. The defendants are accused of conspiring to violate the Money Laundering (Prohibition and Prevention) Acts of 2011 and 2022. The charges reveal a consistent modus operandi:
- Bank-Based Money Laundering: Counts one through three focus on the alleged concealment of over N2.2 billion through Metropolitan Auto Tech Limited’s Sterling Bank account. Notably, Count three alleges that N600 million in illicit funds was retained as cash collateral for a bank loan to Rayhaan Hotels Ltd, illustrating how allegedly “dirty money” can be used to secure legitimate credit.
- Real Estate as a Laundering Vehicle: The bulk of the charges (Counts four through sixteen) detail the purchase of high-value properties across Abuja’s most exclusive districts—Maitama, Asokoro, and Jabi—as well as in Kano and Kebbi states. The EFCC alleges these properties, worth billions, were acquired to integrate illicit funds into the formal economy, a classic third-stage money laundering technique.
The specific allegations include the purchase of a luxury duplex on Amazon Street, Maitama, for N500 million (Count four), and the acquisition of multiple properties through companies like Meethaq Hotels Ltd and Hamonia Hotels Ltd, with sums ranging from N120 million to over N1.3 billion.
Context and Significance: Beyond the Headlines
This case is not merely a legal proceeding; it is a litmus test for Nigeria’s anti-corruption institutions. Malami, as the former AGF, was the government’s top legal advisor and oversaw the EFCC itself. His prosecution signals a potential shift towards holding previously untouchable figures accountable, regardless of their former station.
The case also highlights the systemic vulnerability of Nigeria’s real estate and financial sectors to money laundering. The alleged use of shell companies and corporate accounts to layer and integrate funds points to gaps in corporate governance and beneficial ownership transparency that regulators must urgently address.
The Prosecution’s Strategy and Witness Line-Up
The EFCC has indicated a robust prosecution plan, intending to call a diverse array of witnesses to establish its case. This list includes:
- EFCC Investigators: Folarin Dare, Chinedu Eneanya, and Sani Lukeman are expected to detail the intelligence and petitions that triggered the investigation into “monumental corruption.”
- Financial Sector Insiders: Representatives from Zenith Bank Plc and Sterling Bank Plc will likely provide crucial documentary evidence of the suspicious transaction patterns.
- Associates and Insiders: Abdulrahman Musa Basheer is slated to testify on the role of Rahamaniyya Properties Ltd, while Jamilu Mohammed (presumably a Bureau de Change operator) may shed light on potential cash movements and foreign exchange aspects of the scheme.
The forthcoming arraignment sets the stage for a protracted legal battle that will be closely watched by the public, international observers, and investors. Its outcome will have significant implications for Nigeria’s reputation, the integrity of its financial system, and the credibility of its anti-corruption war. The case underscores the critical need for stronger preventive measures, including enhanced due diligence by banks and real estate developers, to deter such alleged large-scale economic crimes in the future.
Edited by Sadiya Hamza | Source: NAN
