N9bn Money Laundering Trial: Witness Tells Court How Funds Were Routed Through Malami’s Wife’s Hotel Account

Proceedings in the alleged N9 billion money laundering trial of former Attorney-General of the Federation, Abubakar Malami, continued on Monday at the Federal High Court in Abuja, with a prosecution witness giving details of how funds were channelled through a hotel account linked to his wife.

The witness, Daniel Simon Kwayil, a bank compliance officer and second prosecution witness (PW-2), told the court that multiple transfers to Malami were made from the account of Meethaq Hotels Limited, where his wife, Hajia Asabe Rakiya Bashir, is the sole signatory.

Kwayil identified Malami’s wife in court during his testimony.

Malami, who served as Justice Minister under former President Muhammadu Buhari between November 2015 and May 2023, is being tried alongside his wife and son, Abdulaziz, over a 16-count amended charge involving conspiracy, concealment, and laundering of illicit funds.

The Economic and Financial Crimes Commission (EFCC) alleged that the defendants laundered about N9 billion and used the proceeds to acquire properties in Abuja, Kebbi, and Kano.

The commission further claimed that between July 2022 and June 2025, over N1.01 billion was concealed through Metropolitan Auto Tech Limited, while about N600 million was allegedly siphoned between September 2020 and February 2021.

It also told the court that N600 million was kept as cash collateral in March 2021 for a N500 million loan secured by Rayhaan Hotels Ltd, despite allegedly being proceeds of crime.

Although the defendants pleaded not guilty, they were granted bail on March 6 in the sum of N200 million each with two sureties.

Details of Transactions

While being led in evidence by prosecution counsel J. S. Okutepa, SAN, the witness said the bank received a request from the EFCC in 2025 for records of Meethaq Hotels Limited’s account.

He disclosed that on February 5, 2024, ₦14 million was transferred from the hotel’s account to Malami. Another N24 million was transferred on March 4, 2024.

He also stated that N24 million had earlier been sent on February 3, 2024, to Malami’s law firm, A. A. Malami and Co.

According to him, on May 3, 2024, a further N12.5 million was transferred to the former AGF.

Kwayil confirmed that Malami’s wife was the sole signatory to the account, pointing to her identification documents and the company’s board resolution.

He also outlined several inflows into the account between November 2022 and early 2023, including multiple deposits from different sources such as YMB Energy Limited.

After his testimony, the EFCC presented its third witness, Olomotane Egoro, another bank compliance officer.

Egoro said the bank received EFCC requests for documents relating to accounts belonging to Rayhaan Bustan and Agro Allied Nigeria Limited and Khadimiyya for Justice and Development Initiative.

When the prosecution moved to tender the documents, defence counsel Joseph Daudu, SAN, objected on the grounds that the witness’s statement had not been provided in advance.

Ruling on the objection, Justice Joyce Abdulmalik said the defence had the right to cross-examine the witness and request time to review the evidence.

Egoro further told the court that Malami’s son was the sole signatory to the Rayhaan Bustan account, which received a N400 million loan disbursed on October 9, 2020, and fully repaid on July 14, 2022.

He said that on November 10, 2020, transfers of N100 million and N10.57 million were made to New Horizon Limited, alongside five additional transfers of N20 million each on the same day.

The witness also gave details of transactions involving Khadimiyya for Justice and Development Initiative, stating that total deposits into the account between October 2019 and December 2023 amounted to N722,986,603.75.

He added that total inflows into the Rayhaan Bustan account between March 2020 and January 2025 stood at N1,857,978,100.

Justice Abdulmalik adjourned the case until April 20 for continuation of hearing.

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