A FEDERAL High Court in Abuja has granted bail to former Attorney-General of the Federation, Mr Abubakar Malami, alongside his wife, Asabe Bashir, and their son, Abdulaziz Malami, who are facing allegations of money laundering.

Delivering the ruling on Friday, the trial judge, Justice Joyce Abdulmalik, admitted each of the defendants to bail in the sum of N200 million, with two sureties in the same amount.

The court stipulated that one of the sureties must present title documents for a property located in Abuja’s Maitama or Asokoro districts. In addition, the defendants were ordered to submit their international passports to the court as part of the bail requirements.

Justice Abdulmalik further directed that the three defendants remain in the custody of the Nigerian Correctional Service until they meet the bail conditions.

Allegations against the defendants

Malami, his wife and son were re-arraigned before the court on Friday following the reassignment of the case.

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According to a 16-count charge filed by the Economic and Financial Crimes Commission (EFCC), the defendants allegedly engaged in a scheme to launder over N8.1 billion between 2015 and 2025.

The anti-graft agency claimed that the funds were moved through bank accounts and several companies linked to the Malami family in a bid to disguise the source and ownership of the money.

Among the companies cited in the charges are Metropolitan Auto Tech Limited and Meethaq Hotels Limited, which the EFCC said were used to channel large financial transactions through different commercial banks.

Investigators further alleged that the funds were structured through complex transactions designed to conceal their origin and avoid regulatory scrutiny.

Court filings also indicated that part of the money, about N600 million, was allegedly used as cash collateral to secure bank facilities, despite the commission’s claim that the funds were proceeds of unlawful activities.

The EFCC also accused the defendants of using some of the funds to acquire high-value properties in Abuja, Kano, and Kebbi states. According to the commission, some of the assets were purchased directly or through proxies in an attempt to hide the true ownership.

The agency maintained that the three defendants worked together to retain control of the alleged illicit funds and conceal their origin through a network of financial transactions and corporate entities.

First witness testifies

During the hearing, the prosecution called its first witness, David Ajoma, a compliance officer with Sterling Bank. Ajoma told the court that part of his duties involves responding to compliance and information requests from law enforcement agencies.

He disclosed that Sterling Bank received a request from the EFCC on December 2, 2025, seeking details about loan facilities granted to Rayham Hotel Limited.

According to him, the bank subsequently forwarded relevant documents to the anti-graft agency, including the company’s account opening documents, loan account statements, and other supporting records.

Ajoma explained that the loan granted to Rayham Hotel Limited was secured with cash collateral provided by Metropolitan Autotech.

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He further informed the court that both companies maintain separate accounts with Sterling Bank, adding that the signatory to the Metropolitan Autotech account is Hassan Aliyu.

Cross-examination

Under cross-examination, Ajoma clarified that he was not the relationship manager for the accounts belonging to Rayham Hotel Limited or Metropolitan Autotech, and therefore had no direct knowledge of the details or purpose of the inflows into those accounts.

He also told the court that the name Abubakar Malami did not appear on the loan application documents submitted to the bank.

According to him, the only name listed on the application was Abdulaziz Malami, who signed in his capacity as managing director of Rayham Hotel Limited.

The witness further confirmed that none of the transactions presented in court originated from government accounts, the Ministry of Justice, or from Abubakar Malami personally.

Ajoma also stated that based on the documents he reviewed, he did not identify any suspicious transactions and added that none of the transactions breached the regulations of the Central Bank of Nigeria (CBN).