EFCC uncovers N212bn property linked to Ex-AGF Malami … files money laundering charges. By Abibu Shehu Ibrahim
EFCC uncovers N212bn property linked to Ex-AGF Malami
… files money laundering charges
A fresh storm has hit former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), as the Economic and Financial Crimes Commission (EFCC) says it has traced 41 high-value properties allegedly linked to him.
The said properties, according to the anti-graft agency, were located across Kebbi, Kano and the Federal Capital Territory, with a combined valuation of about N212.8 billion.
According to findings by investigators, the assets, ranging from luxury hotels, universities, schools and factories to residential mansions, oil and gas facilities and a printing press — raise serious questions about asset accumulation during Malami’s years in public office.
Kebbi State alone accounts for over N162 billion worth of properties, dwarfing the N16 billion traced to Kano and N34.6 billion in Abuja.
The EFCC has since escalated the matter, filing a 16-count charge of money laundering against Malami and his son, Abdulaziz Malami, before a federal court.
The charges are said to border on alleged violations of Sections 15, 18 and 21 of the Money Laundering (Prevention and Prohibition) Act, with prosecutors accusing the duo of using fronts, family members and corporate entities to conceal the true ownership of the assets.
Investigators allege that the property portfolio includes multiple educational institutions under the Rayhaan brand, luxury hotels in Kano and Abuja, sprawling estates in Maitama and Garki, as well as oil, gas and agro-allied facilities, an asset profile critics say is inconsistent with known legitimate earnings.
The revelations have reignited public outrage and renewed calls for accountability, as anti-corruption watchers insist the case could become a defining test of the government’s resolve to pursue alleged high-level graft without fear or favour.
Malami has yet to be convicted, and the allegations remain subject to judicial determination.
