A federal high court in Abuja, presided over by Justice Emeka Nwite, has granted bail to Abubakar Malami, former attorney-general of the federation (AGF), along with his son, Abubakar Abdulaziz Malami, and his wife, Bashir Asabe. Each defendant was granted bail in the sum of N500 million, a decision delivered on a recent Wednesday.

The bail conditions are stringent, requiring each defendant to produce two sureties of like sum. These sureties must own landed property within the upscale Asokoro, Maitama, or Gwarimpa areas in the Federal Capital Territory (FCT). Additionally, the sureties are mandated to swear to an affidavit of means and deposit two passport photographs with the deputy registrar of the court. The defendants themselves are required to deposit their international passports with the deputy registrar and are expressly forbidden from traveling without the court’s permission. The court has adjourned the hearing in the case to February 17.

The Economic and Financial Crimes Commission (EFCC) had arraigned the Malami family over grave allegations bordering on money laundering, amounting to N8,713,923,759.49. The anti-graft agency also notably linked property worth N212 billion to Abubakar Malami. All defendants have pleaded not guilty to the 16-count charge.

Providing a background to the case, the anti-graft agency alleges that the defendants conspired to launder proceeds of unlawful activity between 2015 and 2025. They purportedly used various bank accounts and corporate entities, including Metropolitan Auto Tech Limited and Meethaq Hotels Limited, to conceal the source and ownership of funds exceeding N8.1 billion. The EFCC further claims that large sums were routed through these companies, with transactions carried out via several commercial banks, specifically structured to disguise their illicit origin and evade regulatory scrutiny. Some funds were allegedly retained as cash collateral for bank facilities, including approximately N600 million, which the commission asserts the defendants knew or ought to have known were proceeds of unlawful activity. These illicit funds were also allegedly used to acquire high-value residential and commercial properties in Abuja, Kano, and Kebbi states, either directly or through proxies, as part of efforts to conceal beneficial ownership. The defendants are also accused of conspiring to indirectly acquire assets, retain control of illicit funds, and disguise the true source through layered financial transactions and corporate vehicles. These alleged offences contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, and related laws.

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