Abubakar Malami Bail: Court Grants N200 Million Bail In N8.7 Billion Money Laundering Case
The Abubakar Malami money laundering case has taken a new turn after the Federal High Court in Abuja granted bail to the former Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, in the sum of N200 million.
Justice Joyce Abdulmalik of the Federal High Court delivered the ruling on Friday while considering the bail application filed by Malami and two other defendants who are facing trial over alleged N8.7 billion money laundering offenses.
As part of the bail conditions, the court ordered that the former minister and his co-defendants must produce two sureties each who will stand for them in the same amount of N200 million.
Justice Abdulmalik further ruled that the sureties must possess developed landed properties located in Maitama or Asokoro, two high-value districts in Abuja.
The court stated that documents related to the properties must be verified by the Deputy Chief Registrar of the court, while the sureties must also depose to an affidavit of means to confirm their financial capacity.
Under the bail conditions, the defendants were also ordered to deposit their international travel documents with the court.
The court ruled that they must not travel outside the country without obtaining permission from the court.
In addition, both the defendants and their sureties were directed to submit two recent passport photographs to the court as part of the documentation process tied to Abubakar Malami’s bail approval.
Despite the bail approval, the court ordered that Malami and his son be remanded at Kuje Correctional Centre while his wife is to be held at Suleja Correctional Centre in Niger State pending the perfection of the bail conditions.
At the time of filing this report, several associates, friends, and sympathizers of the former Minister of Justice were said to be working to secure the bail requirements so that the defendants can regain their freedom.
Meanwhile, Justice Abdulmalik has fixed March 16 for the commencement of the trial in the corruption case linked to the bail proceedings.
The bail applications were argued before the court by Joseph Daudu, SAN, who represented the three defendants.
Counsel to the Economic and Financial Crimes Commission, EFCC, Jibrin Okutepa, SAN, did not oppose the request for bail during the proceedings.
It was also recalled that Justice Emeka Nwite of the same Federal High Court in Abuja had earlier granted Malami’s bail in the sum of N500 million while sitting as a vacation judge before the case started afresh before Justice Abdulmalik.
The Economic and Financial Crimes Commission, EFCC, is prosecuting Malami alongside his son and wife on a 16-count charge bordering on money laundering allegations.
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