N8.7bn fraud: EFCC drags ex-AGF Malami, family members to court

The Economic and Financial Crimes Commission (EFCC) has arraigned former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), his wife, Hajia Bashir Asabe, and his son, Abubakar Abdulaziz Malami, before the Federal High Court in Maitama, Abuja, over alleged involvement in money laundering amounting to more than N8.7 billion.

The three defendants appeared on Tuesday before Justice Emeka Nwite to answer a 16-count charge bordering on conspiracy, concealment and laundering of proceeds suspected to be from unlawful activities, in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.

During the proceedings, EFCC counsel, Ekele Iheanacho (SAN), notified the court that the matter was listed for arraignment and requested that the charges be read to the defendants, who then entered their pleas.

The charges detail various transactions allegedly carried out between 2022 and 2025 involving companies and bank accounts used to conceal the origin of several large payments.

Some of the funds were allegedly channeled through corporate accounts and used in high-value financial dealings.

Following the arraignment, Iheanacho informed the court that the prosecution was prepared to proceed with trial but needed time to respond to a bail application earlier filed by the defence.

Defence counsel, J.B. Daudu (SAN), urged the court to grant bail orally, arguing that the offences were bailable.

However, the prosecution opposed the oral application, insisting that bail issues must be supported by affidavit evidence and warning that granting bail without formal documents would prejudice the case.

Justice Nwite ruled that the prosecution must be given adequate time to formally respond to the bail request.

He therefore ordered that Malami and the other defendants be remanded at the Kuje Correctional Centre pending the hearing of the bail application, which was fixed for January 2, 2026.