EFCC Traces N212.8bn Properties To Ex-AGF, As FG Files Money Laundering Charges Against Malami, Son
The Economic and Financial Crimes Commission (EFCC) has uncovered 41 properties worth N212.8 billion allegedly linked to former Attorney-General of the Federation and Minister of Justice, SAN, Abubakar Malami.
This is just as the Federal Government has slammed money laundering charges and concelment of illegal funds against Malami and his son, Abubakar Abdulaziz Malami, before the Federal High Court in Abuja.
The charges stem from allegations of money laundering involving funds of unlawful origin amounting to more than ₦1.014 billion.
Malami and his son were charged in a criminal suit marked FHC/ABJ/CR/700/2025, filed by the Federal Republic of Nigeria. Also listed as a co-defendant in the case is Hajia Bashir Asabe.
According to the 16 charges, the government accused Malami, his son and others of being involved in the laundering and concealment of N1,014,848,500.00 (One Billion, Fourteen Million, Eight Hundred and Forty-Eight Thousand, Five Hundred Naira) allegedly traced to a Sterling Bank Plc account (No. 0079182387).
The prosecution alleged that the huge sum, domiciled in the said account, was of unlawful origin, and that the defendants “reasonably ought to have known” that the funds represented proceeds of illegal activities.
In the 16 charges, the federal government alleged that between July 2022 and June 2025, within Abuja and the jurisdiction of the court, the defendants procured Metropolitan Auto Tech Limited to conceal the unlawful origin of the money.
The charge alleges, in part, that the defendants used the company as a front to conceal the origin and movement of the funds, an act the government says constitutes money laundering under Nigerian law.
The alleged offence is said to be contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.
The 16 charges were revealing of how Malami engaged Metropolitan Auto Tech Limited to launder funds
