EFCC Slams 16-Count Money Laundering Charges on Ex-Attorney General Abubakar Malami Over Alleged ₦9bn Property Scam
The Economic and Financial Crimes Commission (EFCC) has arraigned Nigeria’s former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), on a sweeping 16-count charge bordering on alleged money laundering, illicit asset acquisition, and financial concealment involving sums running into billions of naira.
Akahi News gathered that the charges, filed before the Federal High Court in Abuja, stem from alleged financial transactions linked to properties worth about ₦9 billion, acquired during Malami’s eight-year tenure in the administration of late President Muhammadu Buhari.
EFCC Alleges Massive Financial Concealment Scheme
According to the charge sheet dated December 23, 2025, Malami was charged alongside his son, Abubakar Abdulaziz Malami, and an employee of Rahamaniyya Properties Limited, Hajia Bashir Asabe.
The anti-graft agency accused the trio of engaging in a complex web of financial transactions allegedly designed to launder illicit funds through companies and bank accounts linked to them.
Akahi News learnt that the charges were filed under Sections 15(2)(d) and 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended), as well as provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
₦9 Billion, 30 Properties, and Questionable Transactions
According to the EFCC, Malami is expected to account for over 30 high-value properties, collectively valued at approximately ₦212.8 billion, allegedly acquired in Abuja, Kano, Kebbi, and other strategic locations.
The anti-graft body alleged that several of these properties were acquired while Malami served as Attorney-General of the Federation, raising questions about the legality of the funding sources.
Akahi News gathered that part of the allegations involves the use of Metropolitan Auto Tech Limited to allegedly launder funds traced to unlawful activities.
One of the charges states that between July 2022 and June 2025, Malami and his son allegedly procured the company to conceal ₦1.014 billion in a Sterling Bank account, funds the EFCC claims were proceeds of unlawful activity.
Multiple Counts Detail Complex Financial Trail
In another count, the EFCC alleged that between September 2020 and February 2021, Malami and his son concealed ₦600,013,460.40 through the same company, in violation of the Money Laundering Act.
The charge further stated that in March 2021, the defendants allegedly used ₦600 million as cash collateral for a ₦500 million loan obtained by Rayhaan Hotels Limited from Sterling Bank, despite allegedly knowing the funds were proceeds of unlawful activity.
Another count accused Malami, his son, and Hajia Bashir Asabe of disguising the origin of ₦500 million used to purchase a luxury duplex located at Amazon Street, Plot 3011, Cadastral Zone A06, Maitama District, Abuja, through Efab Properties Limited.
According to the EFCC, these actions constitute offences under Sections 18(2)(a) and 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
EFCC Moves Toward Asset Forfeiture
Akahi News gathered that the EFCC is also considering invoking the Non-Conviction Based Asset Forfeiture provisions of its Establishment Act. This could allow the commission to temporarily seize the disputed assets pending the outcome of the trial.
Sources disclosed that the commission has a 14-day window to invite interested parties to show cause why the properties should not be forfeited to the Federal Government.
High-Profile Legal Battle Looms
The case is shaping up to be one of the most high-profile corruption trials in recent years. The prosecution team is reportedly being led by Senior Advocates of Nigeria, Jibrin Okutepa (SAN) and Ekene Iheanacho (SAN), alongside 14 other lawyers.
At least 10 witnesses have been frontloaded in compliance with the Administration of Criminal Justice Act (ACJA), signaling the prosecution’s readiness for a prolonged legal battle.
The Federal High Court in Abuja is yet to fix a date for the commencement of trial.
Public Interest and Broader Implications
Analysts say the case could mark a significant test of Nigeria’s anti-corruption framework, particularly regarding accountability of former top public officials.
Observers also note that the outcome may set a precedent on how Nigeria handles allegations of illicit wealth accumulation by high-ranking political office holders after leaving office.
While the allegations remain unproven and Malami is presumed innocent until proven guilty, Akahi News gathered that the scale and depth of the charges have already ignited nationwide debate on transparency, accountability, and the rule of law.
What Lies Ahead
As the EFCC prepares for trial and potential asset forfeiture proceedings, legal observers believe the case could redefine the boundaries of post-office accountability in Nigeria’s democratic space.
For now, all eyes remain on the Federal High Court as Nigerians await the next phase in what many are describing as one of the most consequential corruption trials in recent history.
By Joseph Iyaji | Akahi News
Joseph Iyaji is a journalist, educator, and founder of Akahi G. International, Akahi Tutors, and Akahi News. Read more about him here.
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