A Federal High Court in Abuja has granted bail to former Attorney-General of the Federation, Abubakar Malami, along with his wife, Asabe Bashir, and their son, Abdulaziz Malami
Presiding Judge Joyce Abdulmalik on Friday set bail for each defendant at N200 million, with two sureties of the same amount.
One of the sureties is required to deposit title documents for a property located in either Maitama or Asokoro, Abuja. Additionally, the defendants must surrender their international passports to the court.
Until the bail conditions are fully met, the Malami family will remain in the custody of the Nigerian Correctional Service (NCoS).
The trio was re-arraigned on Friday before Justice Abdulmalik following the reassignment of the case. The Economic and Financial Crimes Commission (EFCC) charged them in a 16-count indictment alleging that between 2015 and 2025 they conspired to launder proceeds from unlawful activities. The agency claims the defendants used bank accounts and corporate entities to conceal the origin and ownership of funds exceeding N8.1 billion.
The EFCC alleged that the family routed large sums through companies connected to them, including Metropolitan Auto Tech Limited and Meethaq Hotels Limited, via multiple commercial banks. The transactions were reportedly structured to disguise the illicit source of the funds and avoid regulatory scrutiny.
Part of the funds, including around N600 million, was allegedly kept as cash collateral for bank facilities, despite the defendants’ knowledge—or reasonable expectation—that the money was obtained unlawfully.
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