A Federal High Court located in Abuja has granted bail of N200 million each to Abubakar Malami, the former Attorney-General of the Federation, his spouse Asabe Bashir, and their son Abdulaziz Malami, in connection with an alleged money laundering case.
Justice Joyce Abdulmalik mandated each defendant to present two sureties for an equivalent amount. Additionally, one of the sureties must provide title documents for properties situated in the Maitama or Asokoro districts of Abuja.
The court also instructed that the defendants should surrender their international passports and remain in the custody of the Nigerian Correctional Service until all bail conditions are fulfilled.
The trio was re-arraigned on a 16-count charge brought forth by the Economic and Financial Crimes Commission (EFCC), which claims they conspired to launder more than N8.1 billion between the years 2015 and 2025 by utilizing banks and companies associated with the Malami family.
The EFCC indicated in court that the funds were allegedly funneled through businesses such as Metropolitan Auto Tech Limited and Meethaq Hotels Limited, which were purportedly used to acquire assets in Abuja, Kano, and Kebbi states.
During the proceedings, the EFCC presented its initial witness, David Ajoma, a compliance officer from Sterling Bank. Ajoma testified that the bank provided the EFCC with documentation in 2025 regarding loan facilities extended to Rayham Hotel Limited.
He informed the court that this loan was supported by cash collateral from Metropolitan Autotech. However, during cross-examination, Ajoma acknowledged that he was not the designated relationship manager for the accounts in question and was unable to clarify the purpose of the transactions.
Ajoma also noted that Malami’s name was absent from the loan application documents, and he asserted that none of the transactions reviewed were sourced from government accounts or breached any of the Central Bank of Nigeria's regulations.
The proceedings have been adjourned for the trial to continue.
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