A federal high court in Abuja has granted bail to former Attorney-General of the Federation, Abubakar Malami; his wife, Asabe Bashir; and their son, Abdulaziz Malami, in a high-profile money laundering case.
Presiding Judge Joyce Abdulmalik on Friday set bail for each defendant at N200 million, with two sureties in a like sum. One of the sureties must provide title deeds of property in either the Maitama or Asokoro areas of Abuja. The court also ordered the defendants to deposit their international passports.
The defendants are to remain in the custody of the Nigerian Correctional Service (NCoS) until the bail conditions are fulfilled.
The former AGF, his wife, and son were re arraigned on Friday following the reassignment of the case. They all faced a 16 count charge filed by the Economic and Financial Crimes Commission (EFCC), which alleged that the trio conspired to launder proceeds of unlawful activity between 2015 and 2025, allegedly concealing over N8.1 billion through bank accounts and corporate entities.
The EFCC claimed the defendants routed large sums through companies linked to the Malami family, including Metropolitan Auto Tech Limited and Meethaq Hotels Limited, using several commercial banks.
Some of the funds, including about N600 million, were allegedly retained as cash collateral for bank facilities, which the commission said the defendants knew or ought reasonably to have known were proceeds of unlawful activity.
The anti-graft agency also alleged that the family used these funds to acquire high value properties in Abuja, Kano, and Kebbi states both residential and commercial either directly or through proxies
.
EFCC accused the Malamis of scheming to disguise the true source of funds and maintain control over illicit assets through a complex web of financial transactions.
Investigations are ongoing as the court awaits compliance with the bail conditions, with the case expected to continue in the coming weeks.m
Goodness Anunobi
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