Alleged money laundering: Ex-AGF Malami explains source of wealth to court

…. seeks release of his seized assets

By Ikechukwu Nnochiri

ABUJA–The immediate past Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN, who is facing money laundering charges, has explained the source of his wealth to the Federal High Court in Abuja.

Malami, SAN, who is begging the court to release to him, three out of 57 seized property that were allegedly traced to him by the Economic and Financial Crimes Commission (EFCC), claimed that he inherited one of the assets from his late father, the others were acquired before he became the AGF.

He identified the three property as Plot 157, Lamido Crescent, Nasarawa, GRA, Kano, purchased in July 31, 2019; a Bedroom Duplex and Boys Quarters at No.12, Yalinga Street, Off Adetokunbo Ademola Crescent, Wuse Il, Abuja, purchased in October 2018 at N150million, and ADC Kadi Malami Foundation Building, bought at N56million.

The EFCC had listed them as No. 9, 18 and 48 in the schedule of property it attached to the interim forfeiture order it secured from the court.

Specifically, the embattled ex-AGF, in the process, filed through his legal team led by Mr. Joseph Daudu, SAN, sought two prayers:

“An order of this honourable court vacating, setting aside and/or discharging the interim order(s) of this honourable court made on the 6th of January, 2026 against the respondent/applicant’s (Malami’s) properties listed as Nos. 9, 18, and 48 in the schedule of properties attached to the interim order of forfeiture of 6th January, 2026, the said properties having been duly declared in the respondent/applicant’s asset declaration forms throughout his tenure as a public officer and No. 48 is held in trust for the Estate of Late Khadi Malami Nassarawa.”

As well as, “An order of this honourable court restraining the applicant/respondent (EFCC), acting by itself or through its servants, agents and proxies from interfering with the respondent/applicant’s (Malami’s) properties in issue or disturbing the respondent/applicant’s ownership, possession and control thereof in the course of purportedly giving effect to the order of this honourable court made on the 6th of January, 2026.”

He told the court that the property were appropriately mentioned in various asset declaration forms he filled and submitted before the Code of Conduct Bureau (CCB), insisting the EFCC failed to adduce any prima facie evidence to establish that they were acquired through proceeds of crime.

Concerning the property listed as No. 48, Malami, said he held it in trust for the benefit of the estate of his late father, Late Kadi Malami.

“These assets, their value and their root of title have been clearly stated and specifically demonstrated in the various asset declaration forms spanning from 2019 to 2023.

“The declaration above is prima facie evidence of the legitimacy of the acquisition and ownership of the properties,” he added.

Enumerating his sources of income, the former AGF told the court that he previously disclosed to the CCB that his earnings included: N374, 630,900 million income from salaries, estacodes, severance allowance and others;

“Sitting allowances as a board/committee member of the Federal Judicial Service Commission, Federal Capital Territory Judicial Service Commission, Legal Practitioner Privileges Committee, and a high-powered presidential committee.

“N574, 073, 000 (Five hundred and seventy-four million, and seventy three thousand naira) as income generated through disposed assets

“N10, 017,382,684 (Ten billion, seventeen million, three hundred and eighty-two thousand, six hundred and eighty-four thousand naira) turnover from businesses.

“N2, 522, 000, 000 (Two billion, five hundred and twenty-two million naira) being loans to businesses

“N958,000,000 (Nine hundred and fifty-eight million naira) as a traditional gift from personal friends.”

He told the court that a total sum of N509,880,000 (Five hundred and nine million, eight hundred and eighty thousand naira) was realised as income from the launch and public presentation of his book titled: “Contemporary Issues on Nigerian Law and Practice, Thorny Terrains in Traversing the Nigerian Justice Sector: My Travails and Triumphs.”

According to him, “These streams of income, and the continuing profits generated from the businesses over the years, sufficiently show that the properties sought to be forfeited were acquired through legitimate and lawful means as stated in the asset declaration forms.”

Accusing the EFCC of obtaining a forfeiture order against him through the suppression of material facts, Malami maintained that the court moved against him over property that “were lawfully acquired post appointment of the respondent/applicant and declared with the Code of Conduct Bureau as legitimate assets of the respondent/applicant, in compliance with the 5th Schedule to the Constitution of the Federal Republic of Nigeria, in 2019 and 2023.”

He argued that the interim forfeiture order was obtained by “manifest exaggeration, malicious inflation of the value of the assets, and unreasonable and incompetent valuation deliberately manipulated to mislead the court, negatively affecting its discretion in granting an order based on manipulated facts and conclusions deliberately cooked up by the applicant/respondent (EFCC).”

“That there is no prima facie evidence placed before this honourable court by the applicant/respondent (EFCC) to warrant the properties linked to the respondent/applicant (Malami) to be liable for forfeiture to the Federal Government of Nigeria.

“The proper remedy for preventing conflicting outcomes duplicative litigation is for this honourable court to dismiss or strike out this suit.

“That this proceeding is an assault on the applicant’s fundamental right to property, his presumption of innocence and his right to live in peace with his family,” Malami added.

It will be recalled that the EFCC had secured an interim forfeiture order on 57 choice properties that were allegedly traced to the former AGF.

According to the anti-graft agency, the property—which are spread across three states (Kebbi, Kano, and Kaduna) as well as the Federal Capital Territory, Abuja—were believed to have been acquired with proceeds of crime.

The agency said the interim order was needed as a precursor to the final forfeiture of the assets to the federal government.

Malami, who served as Justice Minister from November 11, 2015, to May 29, 2023, under former President Muhammadu Buhari’s administration, is facing a 16-count money laundering charge.

He was arraigned before the court, alongside his son, Abdulaziz, and one of his wives, Hajia Bashir Asabe.

The defendants were alleged to have laundered public funds totalling about N9 billion.

According to the EFCC, in a bid to hide his proceeds of crime, the defendant resorted to acquiring choice properties in various cities and states.

While granting the interim forfeiture order on January 6, Justice Emeka Nwite directed the EFCC to within 14 days, publish a notice inviting anyone with an interest in any of the property to appear before the court and show cause why they should not be forfeited to the government.

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