The Economic and Financial Crimes Commission (EFCC) has filed a 16-count money laundering charge against the immediate-past Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN). The EFCC also includes his son, Abubakar Abdulaziz Malami, and a property firm employee as co-defendants.
The prosecution alleges that during Malami’s eight-year tenure (2015–2023), he acquired a real estate portfolio consisting of 30 luxury properties valued at ₦212.8 billion.
Malami, who recently defected from the APC to the African Democratic Congress (ADC) to pursue his 2027 governorship ambition, in Kebbi State, has been in EFCC custody since December 8, 2025.
The initial investigation focused on 18 broad allegations laid against Malami, including the mismanagement of recovered Abacha loot ($346M from Switzerland and $22M from Jersey) and a $496M settlement related to the Ajaokuta Steel concession.
The current 16-count charge focuses on money laundering through firms like Metropolitan Auto Tech Limited and Meethaq Hotels, which the EFCC claims were used to store billions of naira through property acquisitions in Abuja, Kano, and Kebbi.
You Abubakar Malami SAN… did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of ₦1,014,848,500.00… when you reasonably ought to have known that the said sum formed proceeds of unlawful activities – the EFCC
The EFCC is demanding an account for the 30 luxury properties, including Hamonia Hotels (Garki) and Meethaq Hotels (Jabi and Maitama), all together worth over ₦212 billion in value.
The commission stated that it may invoke Non-Conviction Asset Forfeiture to seize these assets. The EFCC has opened a 14-day window for interested parties to kick against the seizure once the trial begins.
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