Abubakar Malami, SAN, former Attorney-General of the Federation (AGF) and Minister of Justice, has been charged alongside his son, Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, with 16 criminal counts involving money laundering, conspiracy, and unlawful acquisition of assets.
The charges, filed at a Federal High Court in Abuja, allege that the trio illicitly acquired over ₦8.7 billion and at least 30 high-value properties across Nigeria between 2015 and 2025.
Court documents indicate that the defendants allegedly used corporate fronts, including Metropolitan Auto Tech Limited, Rahamaniyya Properties Limited, and Meethaq Hotels Limited, to conceal, disguise, and convert funds derived from unlawful activities.
Among the specific allegations, the defendants are accused of;
– Concealing ₦1,014,848,500 in Sterling Bank between July 2022 and June 2025 through Metropolitan Auto Tech Limited.
– Using Metropolitan Auto Tech to retain ₦600 million in March 2021 as collateral for a ₦500 million loan to Rayhaan Hotels Limited.
– Disguising ₦500 million paid to Efab Properties Limited for a luxury duplex at Amazon Street, Maitama, in November 2022.
– Controlling over ₦2.7 billion through Meethaq Hotels’ Union Bank account between 2022 and 2025.
The charge sheet further details multiple property acquisitions allegedly funded with illicit proceeds, including high-value properties in Abuja, Kano, and Kebbi State.
Notable transactions include a ₦700 million property purchase in Garki, Abuja, in 2018 and several plots in Asokoro and Gwarimpa.
Prosecutors allege that all acts violate the Money Laundering (Prohibition) Act 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act 2022.
The total value of funds implicated is ₦8,713,923,759.49, while the properties involved are collectively valued at approximately ₦212.8 billion.
