Malami, son, wife get ₦500M bail each in ₦8.7B money laundering case

‎A Federal High Court in Abuja has granted bail to the former Attorney General and Minister of Justice, Abubakar Malami (SAN), after his arraignment on 16 counts of money laundering.
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‎Justice Emeka Nwite on Wednesday set the bail at ₦500 million each for Malami, his son, Abdulaziz, and his wife, Asabe Bashir.
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‎Recall, Abubakar Malami served as the chief law officer of Nigeria from 2015 to 2023 under former President Muhammadu Buhari. The Economic and Financial Crimes Commission (EFCC) launched an investigation into his finances after his tenure, filing charges in late 2025.
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‎The prosecution alleges that Malami and his family members used a network of corporate entities and bank accounts to conceal the origin of over ₦8.7 billion.
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‎The EFCC claims the defendants laundered these funds through various companies, including Metropolitan Auto Tech Ltd and Meethaq Hotels Ltd, to acquire real estate across Abuja, Kano, and Kebbi.
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‎The court required two sureties for each defendant, each possessing landed property in Maitama, Asokoro, or Gwarimpa.
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‎Malami must submit his international passport with the court and is prohibited from traveling outside Nigeria without judicial permission.
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‎The 16-count charge includes the alleged concealment of ₦1.01 billion between 2022 and 2025 and the use of unlawful funds to purchase luxury duplexes in the Federal Capital Territory.
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‎Meanwhile, the EFCC had opposed the application, with prosecuting counsel Ekele Iheanacho arguing that the former minister could interfere with witnesses and obstruct the course of justice if released.
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‎The EFCC alleged that the funds were proceeds of unlawful activity acquired during and shortly after Malami’s time in office. They contend that the complexity of the transactions, involving multiple bank accounts and proxies, is a deliberate attempt to evade scrutiny from the regulatory body and launder public funds.
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‎Malami and his co-defendants have pleaded not guilty to all charges. His legal team, led by Joseph Daudu (SAN), stated that the allegations are speculative and that the former minister is a law-abiding citizen who will return to court to clear his name.
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‎The trial is officially scheduled to commence on February 17, 2026. Malami will remain at the Nigerian Correctional Service facility in Kuje until he meets the bail conditions set by the court.