Malami, Son, Wife Granted N1 Billion Bail In Money Laundering Case

Malami, Son, Wife Granted N1 Billion Bail In Money Laundering Case
EFCC alleges ₦9bn laundering through firms and bank accounts
Trial fixed for February 17 at Federal High Court Abuja

The immediate past Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), his son, Abdulaziz, and his wife, Hajia Bashir Asabe, on Wednesday secured a combined bail of ₦1.5 billion from the Federal High Court sitting in Abuja in an ongoing money laundering case instituted by the Economic and Financial Crimes Commission.

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EKO HOT BLOG reports that Justice Emeka Nwite, who delivered the ruling, imposed strict bail conditions on the defendants following allegations bordering on the unlawful acquisition and concealment of public funds.

The court admitted Malami to bail in the sum of ₦1 billion, while his wife, Hajia Asabe, was granted bail of ₦500 million.

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EKO HOT BLOG reports that Justice Nwite ordered that each defendant must provide two sureties with landed property located in Asokoro, Maitama or Gwarinpa areas of the Federal Capital Territory. The properties are to be verified by the court.

In addition, the defendants were directed to submit their international passports to the court. The sureties are also required to present two recent passport photographs and swear to affidavits of means.

The court further ruled that the defendants must not travel outside the country without prior permission and ordered that they remain in custody until all bail conditions are fully perfected.

Following the ruling, the case was adjourned to February 17 for the commencement of trial.

Malami, who served as Attorney General of the Federation from November 11, 2015 to May 29, 2023 under former President Muhammadu Buhari, is facing a sixteen count charge bordering on money laundering.

He was arraigned alongside his son, Abdulaziz, and his wife, Asabe, who is said to be an employee of Rahamaniyya Properties Limited. The company is alleged by the EFCC to have been used to conceal proceeds of unlawful activities through property transactions.

The anti graft agency alleged that the trio laundered public funds amounting to about ₦9 billion.

According to court documents, the defendants allegedly used Metropolitan Auto Tech Limited between July 2022 and June 2025 to conceal over ₦1.01 billion in a Sterling Bank account.

They were also accused of siphoning about ₦600 million between September 2020 and February 2021 through the same company.

The EFCC further alleged that in March 2021, the defendants retained ₦600 million as cash collateral for a ₦500 million loan obtained by Rayhaan Hotels Limited from Sterling Bank, despite knowing that the funds were proceeds of crime.

The defendants were said to have contravened several provisions of the Money Laundering Prohibition Act, 2011.

The EFCC disclosed that investigators, bank officials, real estate agents and bureau de change operators are among witnesses expected to testify during the trial.