March 06, (THEWILL) —
A Federal High Court sitting in Abuja, on Friday, granted bail to former Attorney General of the Federation (AGF), Abubakar Malami, SAN, his wife, Asabe Bashir, and their son, Abdulaziz Malami, in an alleged ₦8.7 billion money laundering case instituted by the Economic and Financial Crimes Commission (EFCC).
Presiding Justice Joyce Abdulmalik admitted each of the defendants to bail in the sum of ₦200 million, with two sureties each in like sum.
The court ruled that one of the sureties must submit title documents for a landed property in either Maitama or Asokoro, two of the most exclusive districts in the Federal Capital Territory (FCT), Abuja. In addition, the judge ordered the defendants to deposit their international passports with the court pending the conclusion of the trial.
Until all bail conditions are fully met, the former minister and his family are to remain in custody at the Kuje and Suleja Correctional Centres.
The ruling followed the re-arraignment of the trio on a 16-count amended charge bordering on alleged money laundering. They had pleaded not guilty to all charges. Malami and his son were earlier remanded at Kuje Correctional Centre, while his wife was held at Suleja Correctional Centre, following their initial arraignment on December 30, 2025, under charge number FHC/ABJ/CR/700/2025.
During Friday’s proceedings, the EFCC opened its case and called its first witness, David Ajoma, a compliance officer at Sterling Bank, Abuja. Ajoma testified that on December 2, 2025, Sterling Bank received a request from the EFCC for documents relating to loan facilities granted to Rayham Hotel Limited. The documents provided included account opening packages, loan account statements, and other supporting records.
Ajoma explained that the loan facility was backed by cash collateral from Metropolitan Autotech, which, along with Rayham Hotel Limited, maintains separate accounts with Sterling Bank. He stated that the only name appearing on the loan application was Abdulaziz Malami, as Managing Director of Rayham Hotel Limited. The witness confirmed that Abubakar Malami’s name did not appear on any loan documents, and none of the transactions originated from any government account, the Federal Ministry of Justice, or Malami personally. He further stated that no suspicious transactions were identified and that all activities complied with Central Bank of Nigeria regulations.
Following the testimony, the defendants’ counsel, Joseph Daudu, SAN, formally moved for the bail application. EFCC counsel Jibrin Okutepa, SAN, told the court that the commission would not oppose the bail but urged the judge to impose conditions ensuring the defendants’ availability for trial.
Justice Abdulmalik granted the bail, confirming the ₦200 million bail with two sureties each.
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