A prosecution witness on Friday, March 6, 2026, told the Federal High Court in Abuja how millions of naira allegedly flowed from individuals and companies to service a loan linked to Abubakar Abdulaziz Malami, son of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami.
The case, before Justice Joyce Abdulmalik at the Federal High Court in Maitama, involves Malami, his wife Hajia Bashir Asabe, and their son.
They are facing an amended 16-count charge from the Economic and Financial Crimes Commission (EFCC) for conspiracy, procuring, disguising, concealing, and laundering proceeds of unlawful activities totaling N8.7 billion, contrary to the Money Laundering (Prevention and Prohibition) Act 2022.
During proceedings, prosecution counsel J.S. Okutepa, SAN, presented two witnesses, with the first, David Ajoma, a compliance officer at Sterling Bank, testifying on financial flows connected to Rayhaan Hotels Limited, which allegedly belongs to Abubakar Malami.
Ajoma said the EFCC requested documents relating to a loan facility for Rayhaan Hotels, including the account opening package and financial records of Metropolitan Auto Tech Limited, used as collateral for the loan.
The court admitted the documents as Exhibit A series.
Referring to the exhibits, Ajoma highlighted a N600 million loan application by Abubakar Abdulaziz Malami in February 2021, backed by a fixed deposit created on February 8, 2021.
He went on to detail multiple deposits into the company’s account from September 2020.
These included N3 million from Alhaji Ibrahim on September 23 and 24, N9 million from Hussaini Jajaye Rogo Enterprises on September 24, N3 million from Yusuf Umar, N9 million from Salisu Liyau Umar, and N8 million from Hussaini Jajaye Rogo Enterprises on September 25.
On September 29, deposits included N3 million from Yusuf Umar and N5 million from Nafiu Muhammad Abubakar.
On September 30, the account received N3 million from Alhaji Shehu, N4 million from Nafiu Muhammad Abubakar, and two separate deposits from Abubakar Shuaibu totaling N5 million.
On October 2, 2020, the account received N10 million from Liyau Uma.
The witness’s testimony aims to establish how funds allegedly moved from various sources to service the loan linked to Rayhaan Hotels.
The trial continues, with further witnesses expected to testify.
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