The Economic and Financial Crimes Commission (EFCC) has made a staggering discovery, tracing a portfolio of 41 high-value properties estimated to be worth over N212.8 billion to the former Attorney General of the Federation and Minister of Justice, Abubakar Malami. The properties, spread across Kebbi, Kano states, and the Federal Capital Territory (FCT), Abuja, were amassed during Malami's eight-year tenure under the administration of the late President Muhammadu Buhari.
Breakdown of the Multi-Billion Naira Assets
According to detailed reports, the anti-graft agency has compiled a comprehensive list of the assets. In Kebbi State, properties valued at approximately N162.2 billion were identified. These include the expansive Rayhaan University complex with multiple sites, model academies, an agro-allied factory, a printing press, and the upscale Azbir Hotel among other commercial and residential structures.
The portfolio in Kano State is valued at around N16 billion, featuring the Zeennoor Hotel, Rayhaan Hotel Kano, a gym, and a house linked to Malami's wife. In the Federal Capital Territory, Abuja, assets worth N34.7 billion were traced. These comprise luxury duplexes in Maitama, the Meethaq Hotel branches in Jabi and Maitama, the Harmonia Hotels in Garki, and multiple bungalow units at Efab Estate.
Money Laundering Charges Filed
In a significant legal move, the EFCC has filed a 16-count charge against the former minister and his son, Abdulaziz Malami. The charges border on money laundering, accusing them of offences that contravened Sections 15, 18, and 21 of the Money Laundering (Prevention and Prohibition) Act. This indicates the commission's move from investigation to potential prosecution.
The case adds to the growing list of high-profile investigations into officials of the immediate past administration, raising serious questions about the accumulation of wealth by public servants. The EFCC's action underscores its continued focus on recovering assets suspected to be proceeds of crime.
Implications and Public Reaction
This revelation is set to trigger widespread public discourse on accountability and governance in Nigeria. The sheer scale of the properties—encompassing education, hospitality, real estate, and industry—linked to a former chief law officer is unprecedented. It places intense scrutiny on the financial conduct of top officials during the Buhari era, which was elected on a strong anti-corruption platform.
As the legal process unfolds, all eyes will be on the courts to determine the legitimacy of these assets. The case also tests the resolve of Nigeria's anti-corruption institutions in pursuing powerful figures regardless of their previous political standing.
