Abubakar Malami, former Attorney-General of the Federation and Minister of Justice, has pleaded not guilty to a 16-count money laundering charge filed against him by the Economic and Financial Crimes Commission (EFCC). Malami’s son, Abubakar Abdulaziz Malami, and his fourth wife, Bashir Asabe, also pleaded not guilty to all counts.
The EFCC alleged that the defendants conspired to conceal, retain, and disguise proceeds of unlawful activities amounting to several billion naira.
The commission claimed that the offences spanned several years, involving the use of companies and bank accounts to launder funds and acquire high-value properties in Abuja, Kano, and other locations .
Details of the Charge are that the EFCC accused Malami and his son of using Metropolitan Auto Tech Limited to conceal over N1.01 billion in a Sterling Bank account.
They were also accused of concealing over N600 million through the same company between September 2020 and February 2021.
Malami allegedly 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 crime ².
The case will proceed to trial, with the EFCC set to present witnesses, including commission staff members, bank representatives, and financial experts.
Malami’s lawyer has made an oral application for bail, which the EFCC has urged the court to reject.
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