EFCC Traces 41 Properties Worth Over ₦212bn to Former AGF Abubakar Malami, Files Money Laundering Charges
By Passman Akpos
The Economic and Financial Crimes Commission (EFCC) has traced no fewer than 41 properties, valued at over ₦212 billion, to Abubakar Malami, former Attorney-General of the Federation (AGF) and Minister of Justice.
Investigations by the anti-graft agency revealed that the assets—comprising hotels, residential buildings, schools, factories, lands and a printing press—are spread across Kebbi State, Kano State and the Federal Capital Territory (FCT), Abuja.
According to findings obtained by TheCable, properties located in Kebbi State account for the bulk of the assets, with an estimated value of ₦162.19 billion. Those in Kano State are valued at about ₦16.01 billion, while properties in the FCT are estimated at ₦34.68 billion.
In a significant legal development, the federal government has also filed a 16-count charge bordering on money laundering against Malami and his son, Abdulaziz Malami. The charges are said to be contrary to Sections 15, 18 and 21 of the Money Laundering (Prevention and Prohibition) Act.
The extensive list of properties linked to the former minister includes major educational institutions under the Rayhaan brand, notably Rayhaan University with multiple sites in Kebbi State, valued at tens of billions of naira. Other assets include Rayhaan Model Academy, Rayhaan Primary and Secondary School, agro-allied factories, staff quarters, a radio station, and a printing press.
Also listed are high-value hospitality and commercial assets such as Azbir Hotel in Kebbi, Zeennoor Hotel and Rayhaan Hotel in Kano, as well as Meethaq Hotels in Maitama and Jabi, and Harmonia Hotels in Garki, Abuja.
Residential properties traced to Malami and members of his family include multiple houses in Kebbi and Kano, as well as luxury properties in Maitama and Efab Estate, Abuja.
The EFCC’s findings indicate that the combined value of the assets stands at ₦212,892,750,000, raising serious questions about the source of funds used to acquire them during and after Malami’s tenure as the nation’s chief law officer.
Neither Malami nor his legal representatives have publicly responded to the allegations or the charges as of the time of filing this report. The case is expected to test the federal government’s renewed anti-corruption drive and further intensify scrutiny of former public office holders.
