Abuja, December 30, 2025 – The Economic and Financial Crimes Commission (EFCC) will arraign former Attorney-General of the Federation (AGF), Abubakar Malami, his son, and Bashir Asabe, an employee of Rahamaniyya Properties Ltd, before the Federal High Court in Abuja on 16 counts of fraud and corruption.
The case is scheduled to be heard by Justice Emeka Nwite.
Malami has been under investigation by the EFCC since December 8, 2025.
The anti-graft agency alleges that between 2015 and 2025, the former AGF, alongside his son and Asabe, engaged in a series of suspicious transactions, attempting to conceal billions of naira through bank accounts and property acquisitions across Abuja, Kano, and Kebbi.
According to the EFCC, the defendants conspired to disguise the origin of funds, acquire property indirectly, and retain sums they allegedly knew were proceeds of unlawful activity, in violation of the Money Laundering (Prohibition and Prevention) Acts of 2011 and 2022.
Some of the key allegations include:
Counts 1 and 2: Between July 2022 and February 2021, Malami and his son allegedly concealed over N1.6 billion through Metropolitan Auto Tech Limited accounts at Sterling Bank.
Count 3: In March 2021, the duo allegedly retained N600 million as collateral for a N500 million loan to Rayhaan Hotels Ltd, knowing the funds were illicit.
Counts 4–16: The EFCC claims the defendants acquired multiple properties, including luxury duplexes in Maitama and residences in Garki, Asokoro, and Jabi districts, with funds allegedly from unlawful sources. The amounts involved range from N120 million to over N1.3 billion.
The commission said it plans to call several witnesses, including EFCC staff, bank representatives, Bureau de Change operators, and financial experts.
Among the key witnesses are Folarin Dare, Chinedu Eneanya, and Sani Lukeman, who are expected to testify on intelligence and petitions received by the EFCC, and Abdulrahman Musa Basheer, who will provide evidence regarding Rahamaniyya Properties Ltd’s role in purchasing properties for Malami.
Representatives from Zenith Bank Plc and Sterling Bank Plc are also expected to testify.
The EFCC alleges that the offences span Malami’s tenure as AGF under former President Muhammadu Buhari, highlighting a decade-long pattern of concealing and misappropriating funds through complex financial and property transactions.