Court to rule on Malami’s bail application January 7
A Federal High Court sitting in Abuja has scheduled January 7 to rule on a bail application filed by former Attorney-General of the Federation, Abubakar Malami.
Malami was arraigned earlier in the week alongside his son, Abubakar Abdulaziz Malami, and his wife, Bashir Asabe, over a 16-count charge brought against them by the Economic and Financial Crimes Commission (EFCC).
The defendants pleaded not guilty before the trial judge, Emeka Nwite. Their counsel, Joseph Daudu, initially sought to move an oral bail application, but the court declined, stating that fairness required the prosecution to respond to the written bail application already filed.
Following the ruling, the court ordered that the three defendants be remanded at the Kuje Correctional Centre pending the hearing and determination of their bail request.
At the resumed hearing on Friday, Daudu presented arguments in support of bail for the defendants, while EFCC counsel, Emmanuel Ekele Iheanacho, opposed the applications. However, Justice Nwite said he was unable to give an immediate ruling due to the court’s workload and adjourned the matter to January 7.
According to the EFCC, the defendants are accused of conspiring to launder proceeds of unlawful activities between 2015 and 2025. The commission alleged that over ₦8.1 billion was moved through bank accounts and corporate entities to conceal the source and ownership of the funds.
The anti-graft agency claimed that companies allegedly linked to the Malami family, including Metropolitan Auto Tech Limited and Meethaq Hotels Limited, were used to channel large sums of money through multiple commercial banks in a manner designed to evade regulatory oversight.
The charge sheet further alleged that about ₦600 million was retained as cash collateral for bank facilities, with the defendants allegedly knowing, or reasonably expected to know, that the funds were proceeds of unlawful activity.
The EFCC also accused the defendants of using the funds to acquire high-value residential and commercial properties in Abuja, Kano, and Kebbi State, either directly or through proxies, in an effort to conceal beneficial ownership.
The alleged offences are said to violate provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, and other relevant laws.
