Abuja: The Federal High Court in Abuja has granted bail to Mr. Abubakar Malami, SAN, former Attorney-General of the Federation, his wife Hajia Bashir Asabe, and son Abubakar Abdulaziz. The court admitted them to a N500 million bail each, with two sureties in like sum, amidst ongoing legal proceedings concerning alleged financial misconduct.
According to News Agency of Nigeria, Justice Emeka Nwite ruled that the Economic and Financial Crimes Commission (EFCC) failed to provide substantial reasons to oppose the defendants’ bail application. Justice Nwite criticized the EFCC’s arguments as speculative, leading to the court’s decision to grant bail. The conditions include having sureties who own property in specific areas within the Federal Capital Territory and the surrendering of international passports by the defendants.
The EFCC has charged Malami, his wife, and son in a case marked FHC/ABJ/CR/700/2025, accusing them of engaging in suspicious financial activities. The accusations involve attempts to conceal the origins of billions of naira via bank accounts and property acquisitions in various regions, including Abuja, Kano, and Kebbi.
The charges highlight offenses spanning from 2015 to 2025, during which Malami served as the Attorney-General under former President Muhammadu Buhari. The charges allege that the defendants knowingly disguised the origins of funds and acquired properties with money derived from unlawful activities, violating existing Money Laundering Acts.
Specific allegations include the concealment of over N1 billion through Metropolitan Auto Tech Limited and the acquisition of properties using illicit funds. The EFCC further claims that the defendants retained substantial sums as cash collateral for loans and disguised funds used to purchase luxury properties in prestigious locations.
The EFCC plans to call several key witnesses, including staff members, bank representatives, and financial experts, to testify on the intelligence gathered and the petitions received regarding the alleged corruption. Witnesses such as Folarin Dare, Chinedu Eneanya, and Sani Lukeman are expected to provide crucial testimonies in the forthcoming trial set to commence on February 17.