Abubakar Malami, the former attorney general of the federation (AGF), was granted N500 million in bail by a federal high court in Abuja.
The sitting judge, Emeka Nwite, granted bail to his wife, Bashir Asabe, and son, Abubakar Abdulaziz Malami, on N500 million bail bonds each during her ruling on Wednesday.
Each of the defendants were mandated to present two sureties in like sum who must own landed property within Asokoro, Maitama or Gwarimpa areas in the FCT.
Additionally, the defendants must deposit their foreign passports with the court’s deputy registrar and refrain from travelling without the court’s approval.
The case’s hearing has been postponed until February 17.
Malami was charged with money laundering in the amount of N8,713, 923, 759.49 by the Economic and Financial Crimes Commission (EFCC).
All defendants pleaded not guilty to the charge before the presiding judge. However, accused were placed on remand in the Kuje Correctional Centre on December 30, 2025, while their bail application was heard and decided.
BACKGROUND
The anti-graft agency accused the defendants in the 16-count complaint of conspiring to launder proceeds of illegal activities between 2015 and 2025, using corporate companies and bank accounts to hide the ownership and source of the more than N8.1 billion in monies.
The EFCC said that the defendants used a number of commercial banks to process enormous sums of money through businesses connected to the Malami family, such as Metropolitan Auto Tech Limited and Meethaq Hotels Limited.
The money was purportedly set up to conceal its illegal source and evade regulatory investigation.
Join Our Social Media Channels:
