Abuja Court Reveals Alleged Trail of Funds into Firms Linked to Malami, Family
A Federal High Court in Abuja on Monday heard testimony from bank officials detailing how millions of naira allegedly moved into accounts of companies said to be connected to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), his wife, Hajia Bashir Asabe, and their son, Abdulaziz Malami.
The evidence was presented as part of the Economic and Financial Crimes Commission’s (EFCC) prosecution of the trio on a 16-count charge of money laundering involving approximately N8.7 billion.
During proceedings before Justice Joyce Abdulmalik, two compliance officers from major Nigerian banks testified about account activities and document requests by the anti-graft agency. A Union Bank officer said the EFCC requested and received account opening documents, compliance certificates, and transaction histories for Meethaq Hotels Limited. Records showed significant inflows and outflows, including transfers totalling tens of millions of naira between February and April 2024, some traced to entities allegedly linked with the defendants.
The witness confirmed that Hajia Bashir Asabe was the sole signatory on the Meethaq Hotels account based on board resolutions. A second witness from Access Bank described how the EFCC sought records for accounts belonging to Agro Allied Limited and Khadimiya for Justice and Development Initiative (KJDI). Documents showed that Agro Allied Limited received a N400 million loan in October 2020, with subsequent transfers to other corporate accounts, including payments into Rayhaan Bustan.
Several documents, including account statements and cover letters, were admitted as exhibits after the defence chose to defer objections until final arguments. Evidence indicated that Meethaq Hotels’ account recorded inflows in excess of N99 million between December 2022 and April 2023, while the KJDI account, with signatories including Abdulaziz Malami, received inflows totalling over N1.8 billion over several years. Neither bank official could confirm the purpose of the transactions or identify the ultimate beneficiaries of the funds, noting that none of the inflows originated from government agencies.
Justice Abdulmalik adjourned the case to April 20, 2026, for continuation of testimony and further evidence presentation. The defendants have denied wrongdoing. The EFCC alleges that the funds were proceeds of unlawful activities and that the corporate entities were used to disguise the origin and ownership of the funds, contravening Nigeria’s anti-money-laundering laws.
This trial forms part of heightened anti-corruption enforcement in Nigeria, highlighting judicial scrutiny of alleged financial misconduct by senior public officials and those associated with them. It comes amid continuing efforts by the EFCC to pursue transparency and enforcement of anti-money-laundering statutes.