Court Grants Malami Bail, Wife and Son ₦500m Bail Each

Published

4 months ago

January 7, 2026

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Court Grants Malami Bail, Wife and Son ₦500m Bail Each—-The Federal High Court in Abuja, on Wednesday, admitted Mr Abubakar Malami, SAN, former Attorney-General of the Federation (AGF); his son, Abubakar Abdulaziz and wife, Hajia Bashir Asabe, to a N500 million bail each with two sureties each in the like sum.

Justice Emeka Nwite, in a ruling, held that the reasons adduced by the Economic and Financial Crimes Commission for opposing the defendants’ bail application were not concrete enough to deny them the request.

According to Justice Nwite, it tilts towards speculations.

The judge, therefore, granted their bail in the sum of N500 million each with two sureties who must be property owners in Asokoro, Maitama or Gwarimpa within the Federal Capital Territory.

He said that the documents of the landed property must be verified by the deputy registrar, Litigation, of the court.

He said that the defendants must deposit all their international passports to the deputy registrar, Litigation, of the court and they must not travel outside the country without the court permission.

Justice Nwite also ordered that the defendants and their sureties must deposit two passport photographs each to the court registrar.

Besides, the judge ordered that the residents of the sureties must be verified by the court registrar.

Justice Nwite, who ordered that the defendants must remain in Kuje and Suleja Correctional Centres pending the perfection of their bail conditions, adjourned the matter until Feb. 17 for commencement of trial.

The News Agency of Nigeria (NAN) reports that the EFCC had, in the charge marked: FHC/ABJ/CR/700/2025, named the ex-minister, Hajia Bashir Asabe, his wife and an employee of a firm linked to the former minister, Rahamaniyya Properties Ltd, and his son as 1st, 2nd and 3rd defendants respectively.

The anti-graft agency, in the 16 counts, accused the defendants of carrying out various suspicious transactions and attempting to conceal the unlawful origin of billions of naira through bank accounts and property acquisitions across Abuja, Kano and Kebbi.

They allegedly committed the offences between 2015 and 2025, a period that includes the eight years Malami served as the AGF during the late former President Muhammadu Buhari’s administration.

The commission alleged that Malami, his son, and Asabe conspired to disguise the origin of funds, acquire property indirectly, and retain sums they allegedly knew were proceeds of unlawful activity, in violation of the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.

In count one, the EFCC alleged that between July 2022 and June 2025, Malami and his son directed Metropolitan Auto Tech Limited to conceal over N1 billion (N1,014,848,500) in a Sterling Bank account, knowing the funds were proceeds of unlawful activity.

Count two alleged that between Sept. 2020 and Feb. 2021, the duo allegedly concealed more than N600 million (N600,013,460.40) through the same company.

In count three, the commission alleged that in March 2021, Malami and his son retained N600 million as cash collateral for a N500 million Sterling Bank loan to Rayhaan Hotels Ltd, despite knowing the funds were illicit.

Count four alleged that in Nov. 2022, Mr Malami, his son, and Asabe disguised N500 million used to purchase a luxury duplex in Maitama, Abuja.

In count five, the EFCC claimed that between Nov. 2022 and Sept. 2024, the trio conspired to conceal N1,049,173,926.13 paid through Meethaq Hotels Ltd’s Union Bank account.

Count six accused them that between Nov. 2022 and Oct. 2025, Malami and his son allegedly took control of N1,362,887,872.96 from the same account, knowing it was illicit.

Count seven alleged that in Nov. to Dec. 2018, Malami and Asabe concealed N700 million used to purchase No. 3 Onitsha Crescent, Garki, Abuja (Hamonia Hotels Ltd).

In count eight, between Sept. and Dec. 2020, the duo and Asabe allegedly concealed N850 million to buy a property in Jabi District, Abuja (Meethaq Hotels Ltd).

Count nine stated that in Feb. 2018, Malami and Hajia Bashir acquired No. 3 Rhine Street, Maitama, Abuja, for N430 million, allegedly from unlawful sources.

In count 10, the pair allegedly concealed N210 million in Feb. 2018 to purchase a property in Asokoro District, Abuja.

Count 11 alleged that between March and June 2021, they concealed N325 million used to acquire No. 1241B Asokoro District, Abuja.

In count 12, the EFCC alleged that between Nov. 2015 and Jan. 2016, the duo concealed N120 million used to purchase No. 27 Efab Estate, Gwarimpa, Abuja.

Count 13 alleged that in Nov. 2022, tye ex-AGF, his son, and Asabe conspired to hide funds used to acquire a luxury duplex at Amazon Street, Maitama, Abuja.

In count 14, between Dec. 2016 and April 2022, Malami, Asabe, and others allegedly “conspired to acquire additional properties” for Malami with proceeds of unlawful activity.

Count 15 alleged that between June 2023 and Jan. 2023, Malami allegedly concealed “N537 million used to purchase multiple properties across Abuja, Kebbi, and Kano.”

In count 16, the EFCC alleged that between Oct. 2018 and Dec. 2021, Malami concealed “N415 million used to acquire several properties in Abuja, Kebbi, and Kano.”

The EFCC said it planned o call several witnesses, including commission staff, bank representatives, Bureau de Change operators and other financial experts.

Key witnesses include Folarin Dare, Chinedu Eneanya, Sani Lukeman, Abdulrahman Musa Basheer, Jamilu Mohammed, and representatives of Zenith Bank Plc and Sterling Bank Plc.

Folarin Dare, Chinedu Eneanya, and Sani Lukeman are expected to testify on how the EFCC received intelligence and petitions of alleged monumental corruption against the former minister.

Abdulrahman Musa Basheer is to provide evidence on Rahamaniyya Properties Ltd’s role in allegedly purchasing property for Malami.

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JUST IN: Nollywood Thrown Into Mourning As Actor Alexx Ekubo Dies At 40

Published

22 hours ago

May 12, 2026

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JUST IN: Nollywood Thrown Into Mourning As Actor Alexx Ekubo Dies At 40—-Popular Nollywood actor Alexx Ekubo has reportedly passed away at the age of 40 after a prolonged battle with cancer.

Reports which emerged on Tuesday evening stated that the award-winning movie star had been privately battling the illness for some time before his death, throwing the Nigerian entertainment industry into deep mourning.

News of his passing has since triggered an outpouring of grief across social media, with fans, colleagues, and celebrities paying tribute to the actor known for his charisma, elegance, and versatility on screen.

For months, concerns had grown among fans over Ekubo’s absence from public appearances and social media activity. His last major online post dated back to late 2024, fueling speculation about his health and wellbeing.

Born Alex Ekubo-Okwaraeke, the actor studied Law at the University of Calabar and also earned a diploma in Mass Communication. He first gained national attention after emerging as the first runner-up in the 2010 Mr Nigeria competition — a breakthrough that opened the doors to a successful acting career in Nollywood.

Ekubo quickly became one of the industry’s most recognisable faces, admired for his ability to interpret a wide range of roles. His performance in the 2012 movie In the Cupboard earned him the Best Actor in a Supporting Role award at the Best of Nollywood Awards.

Beyond acting, his personal life often attracted public interest, especially his relationship with American-based model Fancy Acholonu. The pair became one of Nollywood’s most talked-about celebrity couples after announcing their engagement in 2021.

However, their planned wedding — famously tagged #FalexxForever — was abruptly cancelled just months before the ceremony, sparking widespread reactions online. In the years that followed, both parties made headlines over comments regarding their relationship and eventual separation.

As tributes continue to pour in, colleagues in the movie industry have described Ekubo as a warm-hearted individual whose talent and energy left a lasting impact on African cinema.

His death marks a painful loss for Nollywood and the many fans who admired him throughout his career.

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Business

UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments

Published

1 day ago

May 12, 2026

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UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments—-Three of Nigeria’s largest financial institutions have reported combined fraud-related losses of approximately ₦2.13 billion in their latest audited financial statements, highlighting the growing threat of cybercrime and electronic banking fraud in the country’s financial sector.

The affected institutions include Access Holdings Plc, Guaranty Trust Holding Company Plc, and United Bank for Africa Plc.

According to details contained in the banks’ 2025 financial reports, fraud incidents linked to the three lenders totalled approximately ₦10.29 billion. However, through recoveries, transaction reversals, and security interventions, the banks were able to prevent or recover about ₦8.16 billion, leaving actual losses at approximately ₦2.13 billion.

Among the banks, Access Holdings recorded the highest direct loss to fraudsters, losing an estimated ₦1.24 billion within the financial year.

United Bank for Africa reported over 26,400 fraud-related incidents, with actual losses totalling approximately ₦621.57 million, while Guaranty Trust Holding Company recorded approximately ₦269.44 million in losses tied to fraudulent activities.

Industry analysts say the figures reflect the increasing sophistication of cybercriminals targeting Nigeria’s rapidly expanding digital banking ecosystem.

Most of the fraud cases were reportedly connected to electronic banking channels, including unauthorised transfers, mobile banking compromise, phishing schemes, identity theft, and other forms of digital payment fraud.

The development comes as Nigerian banks continue to accelerate the country’s transition toward a cashless economy through mobile banking platforms, internet banking services, agency banking networks, and digital payment systems.

Despite the losses, the financial institutions significantly increased investments in technology infrastructure and cybersecurity measures during the year under review.

Collectively, the banks reportedly spent over ₦280 billion on technology upgrades, fraud monitoring systems, customer authentication processes, and transaction security enhancements aimed at reducing cyber threats and protecting customer funds.

Meanwhile, the Central Bank of Nigeria has also intensified regulatory efforts to curb financial fraud across the banking industry.

The apex bank recently introduced stricter compliance measures requiring financial institutions to strengthen fraud detection systems, improve transaction monitoring, and respond more rapidly to suspicious activities and customer complaints.

Financial experts have warned that as digital banking adoption continues to rise across Nigeria, banks and customers alike must remain vigilant against increasingly advanced cybercrime tactics targeting the financial sector

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