Lucky Obukohwo Reporting
The Federal High Court in Abuja has remanded the immediate past Attorney-General of the Federation, Abubakar Malami, one of his wives, Hajia Bashir Asabe, son, Abdulaziz,
in prison custody over an alleged N9 billion money laundering case.
Trial Justice Joyce Abdulmalik ordered their remand after they were re-arraigned on a 16-count charge filed by the Economic and Financial Crimes Commission, accusing them of laundering public funds amounting N9 billion.
The court directed that Malami and his son be kept at Kuje prison, while Asabe was remanded at Suleja prison in Niger State, pending the hearing of their bail applications scheduled for March 6.
Defence counsel, Joseph Daudu, SAN, urged the court to allow the defendants to continue on the bail earlier granted to them on January 7 by Justice Emeka Nwite, who initially handled the matter as a vacation judge.
However, EFCC counsel, Jibrin Okutepa, SAN, confirmed that although the bail conditions had been perfected, the case had commenced afresh before Justice Abdulmalik.
Justice Abdulmalik held that proceedings conducted before Justice Nwite had legally terminated and insisted that the defendants must file fresh bail applications before her court, rejecting efforts by the defence to make oral applications.
According to the EFCC, Malami, who served as Justice Minister under former President Muhammadu Buhari from November 11, 2015, to May 29, 2023, allegedly used companies, including Metropolitan Auto Tech Limited and Rayhaan Hotels Ltd, to conceal and retain funds suspected to be proceeds of crime through Sterling Bank accounts.
The anti-graft agency further alleged that the defendants breached provisions of the Money Laundering (Prohibition) Act, 2011, involving sums such as N1.01bn and N600m, and disclosed that investigators, bank officials, real estate agents and Bureau de Change operators are expected to testify, even as Malami also faces separate charges of terrorism financing and illegal possession of firearms filed by the Department of State Services.
Truth Live News Media reports that the battle for Malami began on December 9, 2025, when the Economic and Financial Crimes Commission (EFCC) detained him for alleged terrorism financing.
The ex-Minister is also to explain issues relating to money laundering, especially operation of suspicious accounts.
Malami has been asked to account for his investment of about N10billion in Kebbi State, whereabouts of $322million Abacha loot recovered from Swiss account and about $22million from Island of Jersey in the UK.
The EFCC was holding on to Malami as at 10pm on Tuesday because he has not been able to meet his bail conditions.
But the ex-AGF said his public record in office stands in direct contradiction to any insinuation of complicity in terrorism financing.
A top EFCC source said then that the allegations against Malami were many which will require some days to go through.
The source said:”We have detained the ex-Minister for terrorism financing and the whereabouts of Abacha loot recovered from Switzerland and Island of Jersey in the UK.
“His sudden wealth of N10billion investments in Kebbi State are under investigation. We may attach some of these assets.
“We are likely to interrogate one of his wives on her role on N4billion Anchor Borrowers cash advanced by the Central Bank of Nigeria (CBN).
“He has a lot to clarify but he has not been able to meet bail conditions. He might be with us until he fulfils these.”
But Malami has rejected allegations of terrorism financing.
He cited his key roles in Nigeria’s AML/CFT Reforms and FATF Grey-List exit to dismiss the terrorism financing insinuations.
In a statement on X, Malami said: “My attention has been drawn to a recent publication in which my name was mentioned in connection with allegations of terrorism financing and so-called “links” to persons described as terror suspects or alleged financiers.
“I consider it necessary, in the interest of truth, justice and public record, to make the following clarifications.
“First, I state clearly and unequivocally that I have never at any time been accused, invited, interrogated, investigated or charged by any security, law-enforcement, regulatory or intelligence agency—within or outside Nigeria—in respect of terrorism financing or any related offence.
“Secondly, even the retired military officer cited as the principal source in the said publication categorically admitted that he was not accusing me, or other named individuals, of financing terrorism.
” His own account, as reported, was limited to a vague assertion that certain suspects allegedly had some form of “business” or “institutional” relationship with various persons.
” That important clarification was, unfortunately, overshadowed by a headline and framing capable of misleading well-meaning members of the public into drawing inaccurate and damaging conclusions which was unfortunately politically manipulated by my political opponents to create mischievous insinuations implying my involvement in terrorism financing.
“Terrorism financing is a grave crime with devastating consequences for national security and human life. Any attempt—whether by direct allegation or indirect innuendo—to associate an individual with such an offence must be grounded in verifiable facts, due process and lawful findings, not in conjecture, speculation, or guilt by association. To suggest that lawful professional or institutional engagements can, without more, be read as evidence of terrorism financing is both mischievous and unjust.
“For the avoidance of doubt, my public record in office stands in direct contradiction to any insinuation of complicity in terrorism financing. During my tenure as Attorney-General of the Federation and Minister of Justice, I worked with other arms of government and relevant institutions to strengthen—not weaken—Nigeria’s legal and institutional framework against money laundering and the financing of terrorism.
