Ruling on the oral bail application presented by defence counsel, Justice Nwite held that granting bail at that stage would amount to an ambush, noting that a written bail application had already been filed by the defence.
Following the defendants’ plea of not guilty to the sixteen-count corruption-related charges, Justice Nwite adjourned the case to January 2, 2026, for the hearing of the bail application.
The three defendants were arraigned before the Federal High Court in Abuja on Tuesday.
They are facing a 16-count charge filed by the Economic and Financial Crimes Commission (EFCC) against Abubakar Malami, his son Abubakar Abdulaziz Malami, and their associate, Hajia Bashir Asabe.
The charges accuse them of extensive money laundering and the unlawful acquisition of properties valued at more than N8.7 billion.
The charge, labeled FHC/ABJ/CR/700/2025, alleges that the defendants conspired to conceal, disguise, and retain proceeds from unlawful activities.
The indictment states that over nearly a decade, they allegedly used multiple bank accounts, corporate entities, and high-value real estate transactions to indirectly acquire the illicit funds.
According to the charge sheet, the alleged offences occurred between 2015 and 2025, mainly within the Federal Capital Territory, Abuja, during Malami’s tenure as the nation’s Attorney-General.
The EFCC alleged that Malami and his son used Metropolitan Auto Tech Limited to conceal N1.014 billion in a Sterling Bank account from July 2022 to June 2025. They are also accused of depositing an additional N600.01 million between September 2020 and February 2021.
The properties involved include a luxury duplex on Amazon Street, Maitama, purchased for N500 million; a property on Onitsha Crescent, Garki, acquired for N700 million; and another in Jabi District bought for N850 million.
Other alleged acquisitions include real estate on Rhine Street, Maitama (N430 million); in Asokoro District (N210 million and N325 million); and at Efab Estate, Gwarimpa (N120 million).
The EFCC further claims that Malami used illicit funds totaling N952 million to purchase multiple properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023. These acquisitions were reportedly made through proxies and corporate entities to conceal ownership.
Hajia Bashir Asabe, identified as an employee of Rahamaniyya Properties Ltd, is said to have played a key role in facilitating these property transactions and disguising ownership on behalf of Malami.
The commission contends that these alleged actions breach the provisions of the Money Laundering (Prohibition) Act, 2011 (as amended), and the Money Laundering (Prevention and Prohibition) Act, 2022.
To support its case, the EFCC has listed a variety of witnesses, including investigators, bank officials, bureau de change operators, and company representatives.
