Court Grants Ex-AGF Malami, Son, Wife N200m Bail Each Over Alleged N9bn Money Laundering

The Federal High Court sitting in Abuja on Friday granted bail to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, his son, and his wife over alleged money laundering involving about N9 billion.

Justice Joyce Abdulmalik, in her ruling, admitted the three defendants to bail in the sum of N200 million each with two sureties in like sum.

Malami, his son Abdulaziz, and his wife Hajia Bashir Asabe had earlier been remanded in prison custody on February 27 after they were re-arraigned on a 16-count charge brought against them by the Economic and Financial Crimes Commission (EFCC).

The remand order came after the judge declined to adopt bail conditions earlier granted to the defendants on January 7.

During the proceedings, defence counsel Joseph Daudu, SAN, urged the court to allow the defendants to continue enjoying the bail earlier granted by Justice Emeka Nwite, who first handled the case as a vacation judge.

Responding, EFCC counsel Jibrin Okutepa, SAN, acknowledged that the defendants had previously fulfilled the bail conditions but maintained that the court had the discretion to determine whether the bail should subsist following their re-arraignment.

In her ruling, Justice Abdulmalik held that the matter had commenced afresh before her, noting that the earlier proceedings before Justice Nwite had legally ended.

She subsequently directed the defendants to file a fresh bail application, which was granted.

The court ordered that one of the sureties must present title documents for a property located in either Maitama or Asokoro in the Federal Capital Territory, Abuja.

It also ordered the defendants to surrender their international passports and prohibited them from travelling abroad without the court’s permission.

Justice Abdulmalik further ruled that the defendants should remain in the custody of the Nigerian Correctional Service until they meet the bail conditions.

The trial was adjourned to March 16.

According to the EFCC, Malami, who served under former President Muhammadu Buhari from November 11, 2015, to May 29, 2023, allegedly used various companies to conceal proceeds of crime and acquire properties across Abuja, Kebbi and Kano.

The anti-graft agency told the court that the defendants used Metropolitan Auto Tech Limited between July 2022 and June 2025 to conceal over N1.01 billion in a Sterling Bank account.

They were also accused of siphoning about N600 million through the same company between September 2020 and February 2021.

The EFCC further alleged that in March 2021 the defendants retained N600 million as cash collateral for a N500 million loan obtained by Rayhaan Hotels Ltd from Sterling Bank, despite allegedly knowing that the funds were proceeds of crime.

The alleged offences are said to contravene provisions of the Money Laundering (Prohibition) Act, 2011.

Investigators, bank officials, real estate agents and Bureau de Change operators are expected to testify in the trial.

Malami is also facing another five-count charge filed by the Department of State Services (DSS) bordering on terrorism financing and illegal possession of firearms alongside his son.

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