N8.7bn Alleged Fraud: Court Hears How Funds Were Moved to Firms Linked with Abubakar Malami
A Federal High Court in Abuja has heard detailed testimony on how billions of naira were allegedly funneled into bank accounts linked to the former Attorney General of the Federation (AGF), Abubakar Malami, his wife, Hajia Bashir Asabe, and his son, Abdulaziz.
During the trial on Monday, two bank compliance officers testified as prosecution witnesses (PW2 and PW3) for the Economic and Financial Crimes Commission (EFCC).
The EFCC is currently prosecuting the Malami family on a 16-count money laundering charge involving approximately N8.7 billion.
Simon Kwayil, a compliance officer with Union Bank, testified that Hajia Asabe was the sole signatory to the account of Meethaq Hotels Limited.
“Between February 2, 2024, and April 3, 2024, there were instant transfers in the region of N48 million from the Meethaq Hotels’ account in favour of Abubakar Malami and A. A. Malami and Co,” Kwayil revealed.
Further testimony from Access Bank’s Olomotane Egoro highlighted massive inflows into the Khadimiya for Justice and Development Initiative (KJDI) account, where Abdulaziz Malami is a signatory.
Records showed that between March 2020 and January 2025, the account received total lodgements of N1.857 billion.
The defense lawyer, Joseph Daudu (SAN), cross-examined the witnesses, who admitted that while the funds were substantial, they did not originate directly from government agencies.
Justice Joyce Abdulmalik has adjourned the case till April 20, 2026, for the continuation of the trial.
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