The Federal High Court in Abuja has ordered that the immediate past Attorney-General of the Federation, Abubakar Malami, remain in custody pending the determination of his bail application scheduled for Wednesday.
Malami, who served as Justice Minister under former President Muhammadu Buhari from 2015 to 2023, is facing a 16-count money laundering charge involving alleged diversion and concealment of public funds estimated at ₦9 billion.
The former AGF was arraigned alongside his son, Abdulaziz Malami, and Hajia Bashir Asabe, an employee of Rahamaniyya Properties Limited, over allegations that they used corporate entities and real estate transactions to launder illicit funds.
According to the Economic and Financial Crimes Commission (EFCC), the defendants allegedly used Metropolitan Auto Tech Limited to conceal over ₦1.01 billion in a Sterling Bank account between 2022 and 2025, while another ₦600 million was allegedly laundered through the same firm between 2020 and 2021.
The anti-graft agency also accused the defendants of retaining ₦600 million as cash collateral for a bank loan obtained by Rayhaan Hotels Limited, despite allegedly knowing that the funds were proceeds of crime.
At the resumed hearing on Friday, Malami’s counsel, J.B. Daudu, SAN, urged the court to grant bail, arguing that the offences were bailable and that the defendants were ready to stand trial.
The EFCC opposed the application, citing flight risk and the possibility of interference with witnesses.
Justice Nwite, after hearing submissions from both sides, adjourned the matter to Wednesday for ruling on the bail application.
Malami was detained by the EFCC on Dec. 8, 2025, following an invitation by the agency. He has since alleged that the prosecution is politically motivated.
Peter Anene, Business Editor ✔
Peter Okafor is a seasoned financial journalist and editor at Naija247news, known for his insightful coverage of markets, economic policy, and corporate trends. With a background in journalism and finance, he brings clarity to complex financial narratives and contributes to shaping the outlet’s editorial direction. His award-winning work promotes financial literacy and informs national discourse on the economy.
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