On Monday, two prosecution witnesses presented critical evidence concerning bank transactions related to the wife and son of former Attorney-General of the Federation, Abubakar Malami, amid their ongoing money laundering trial.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Abubakar Malami, his wife Asabe Bashir, and their son Abdulaziz Malami at the Federal High Court in Abuja. The EFCC alleges that the family members' actions constitute part of a money laundering scheme involving a staggering N8.7 billion.
The EFCC's charges, which were filed in December, assert that the accused participated in money laundering activities between 2015 and 2025, utilizing various bank accounts, corporate entities, and high-value property investments.
The prosecution has outlined 16 specific counts including conspiracy, concealing proceeds from unlawful activities, and laundering the considerable sum involved. A significant portion of these transactions is said to have occurred while Mr Malami held the position of Attorney-General under the administration of the late President Muhammadu Buhari from 2015 to 2023.
During the hearing, Daniel Kwayil, a compliance officer at Union Bank, was the second witness to testify. He provided the court with documentation pertaining to the account of Meethaq Hotels Limited, which is linked to the accused.
Kwayil stated that the account number involved is 0179011105 and presented copies of the required banking documents and statements to the court. He did not face any objection from the defence counsel, Joseph Daudu, who indicated he might reserve the right to contest the documentation later in the trial.
The court recognized and accepted these documents as Exhibit B series.
Further inquiries by prosecution lawyer Jibrin Okutepa led Kwayil to confirm various transactions made from Meethaq Hotels Limited’s account. Notably, he referenced a N14 million payment made by instant transfer to Abubakar Malami on February 5, 2024.
Kwayil recounted additional transfers, including N24 million on March 4, 2024, and another N24 million directed to A.A. Malami and Co on February 3, 2024, followed by yet another N12.5 million to A.A. Malami on May 3, 2024.
When the witness was prompted about the signatory for Meethaq Hotels Limited, he identified Asabe Rakiya Bashir as the sole signatory. He corroborated her identity by referencing her identification card found in the account opening documents submitted to the court.
In detailing the inflows and outflows, Kwayil mentioned several notable deposits that included multiple transactions from YMB Energy Limited and others, with significant amounts moved through the hotel’s account during various dates starting from November 2022 to March 2025.
In a cross-examination conducted by the defence, Kwayil explained his tenure with Union Bank and clarified the distinction between his role as a compliance officer and that of a relationship manager.
The cross-examination verified that while he recognized the account details and transactions, he was unaware of their specific commercial intent or the parties involved.
Meanwhile, the prosecution also called a third witness, Olomotane Egoro, a compliance officer at Access Bank. Egoro explained how his team responded to a request from the EFCC for documentation related to financial dealings of various entities linked to the Malami family.
Testifying about another account that included Abdulaziz Malami as the sole signatory, he reported on a N400 million loan disbursed to Rayhaan Bustan and Agro Allied Ltd, which brought additional scrutiny into the family's financial activities.
After lengthy testimonies from two prosecution witnesses concerning the extensive bank transactions involving the Malami family, the case was adjourned until April 20 for further proceedings.
Background information indicates that the defendants were initially arraigned on December 30, 2025, and have since faced another round of arraignment before the same judge. The EFCC has been actively pursuing both this and a separate terrorism financing case against the Malami family, which also remains pending.
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