The hopes of former Attorney-General Abubakar Malami and his family to celebrate the New Year at home were cut short on Friday, January 2.
Persecondnews reports that instead of a holiday reunion, Malami, his wife Hajia Bashir Asabe, and their son Abubakar Abdulaziz Malami remain in custody, as the court scheduled the ruling on their bail applications for Wednesday, January 7, 2026.
Justice Emeka Nwite is scheduled to give his ruling on their bail applications after hearing arguments from the defence counsel, Mr. Joseph Daudu (SAN) and the EFCC prosecutor, Mr. Ekele Iheanacho (SAN).
In the charge FHC/ABJ/CR/700/2025, the Economic and Financial Crimes Commission (EFCC) names the trio as the first, second, and third defendants in a major money laundering case.
The commission alleged that the family conducted suspicious transactions to hide the illicit origins of billions of naira, using bank accounts and real estate across Abuja, Kano, and Kebbi.
These alleged offences reportedly occurred between 2015 and 2025, spanning Malami’s tenure as AGF under the late former President Muhammadu Buhari.
The commission further alleged that Malami, his son and Asabe conspired to disguise the origin of funds, acquire property indirectly and retain sums they allegedly knew to be proceeds of unlawful activity, contrary to the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.
They were also alleged of concealing over N600 million through the same company between September 2020 and February 2021.
Malami retained N600 million as cash collateral for a N500 million loan granted to Rayhaan Hotels Ltd by Sterling Bank, despite knowing the funds were proceeds of crimes, according to the anti-graft agency
The defendants, who were alleged to have laundered public funds totalling about N9 billion, were said to have acted in breach of Section 15(2) (d) of the Money Laundering (Prohibition) Act, 2011, as amended and punishable under Section 15(3).
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