The Federal High Court in Abuja granted bail on Wednesday to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN—along with his son Abdulaziz and wife Hajia Bashir Asabe—in a high-profile money laundering case.
Justice Emeka Nwite set bail at N1 billion for Malami and his son, and N500 million for his wife. Each defendant must produce two sureties owning property in Asokoro, Maitama, or Gwarinpa districts of the Federal Capital Territory. Sureties need to submit property title documents for verification, two recent passport photos, and an affidavit of means. All defendants must surrender their passports, remain in custody until conditions are met, and seek court permission for any international travel.
The court adjourned the matter to February 17 for trial. Malami, who served under ex-President Muhammadu Buhari from November 2015 to May 2023, faces a 16-count charge alongside his family members. The Economic and Financial Crimes Commission (EFCC) alleges they laundered about N9 billion in public funds through Rahamaniyya Properties Limited, using property deals in Abuja, Kebbi, and Kano to conceal illicit proceeds.
Key allegations include:
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Concealing over N1.01 billion in a Sterling Bank account via Metropolitan Auto Tech Limited between July 2022 and June 2025.
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Siphoning N600 million through the same firm from September 2020 to February 2021.
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Retaining N600 million as cash collateral for a N500 million loan to Rayhaan Hotels Ltd from Sterling Bank in March 2021, knowing it was proceeds of crime.
The defendants are accused of violating the Money Laundering (Prohibition) Act, 2011. EFCC plans to call investigators, bank officials, real estate agents, and Bureau de Change operators as witnesses.
