https://www.thecable.ng/n8-7bn-money-laundering-court-remands-malami-wife-son-in-prison/

A federal high court in Abuja has ordered the remand of Abubakar Malami, former attorney-general of the federation (AGF) and minister of justice, his wife, Asabe Bashir, and son, Abdulaziz, in prison custody pending the hearing and determination of their bail applications.

The former AGF, his wife and his son were re-arraigned on Friday before Joyce Abdulmalik, judge of a federal high court in Abuja, following the reassignment of the case.

The defendants pleaded not guilty to the 16-count charge bordering on conspiracy, procuring, disguising, concealing and laundering proceeds of unlawful activities to the tune of N8,713,923,759.49.

After their plea, Joseph Daudu, the defence lawyer, prayed the court to adopt the bail conditions earlier granted by Emeka Nwite, the judge before whom they were first arraigned.

Although Jibrin Okutepa, prosecution counsel, did not raise any objection, the judge held that her court was not bound by what happened in the other court.

She also rejected Daudu’s request to move an oral bail application, insisting that a formal and written bail application must be filed.

She adjourned till March 6 for the hearing of their bail applications and commencement of trial.

The court said Malami and Abdulaziz should be kept in Kuje prison in Abuja, while Asabe should be remanded in Suleja prison in Niger state, where there are facilities for female inmates.

In the 16-count charge, the Economic and Financial Crimes Commission (EFCC) alleged that the defendants conspired to launder proceeds of unlawful activity between 2015 and 2025, using bank accounts and corporate entities to conceal the source and ownership of the fund worth over N8.1 billion.

The EFCC alleged that the defendants routed huge sums of money through companies linked to the Malami family, including Metropolitan Auto Tech Limited and Meethaq Hotels Limited, with transactions carried out through several commercial banks.

The funds were allegedly structured in a manner designed to disguise their illicit origin and avoid regulatory scrutiny.

According to the charge sheet, some of the funds were retained as cash collateral for bank facilities, including about N600 million, which the commission said the defendants knew or ought reasonably to have known were proceeds of unlawful activity.

The anti-graft agency also alleged that the defendants used the funds to acquire high-value property in Abuja, Kano, and Kebbi states.

They include residential and commercial property allegedly purchased directly or through proxies as part of efforts to conceal beneficial ownership.

The EFCC also accused the defendants of conspiring among themselves to indirectly acquire assets, retain control of illicit funds, and disguise the true source of the money through a series of financial transactions and corporate vehicles.

The alleged offences are said to contravene provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, and related laws.