Nigeria’s judicial system moved forward in a high-profile financial crimes probe as a Federal High Court in Abuja released former Attorney General of the Federation Abubakar Malami, his wife Asabe Bashir, and their son Abdulaziz Malami on bail, setting stringent conditions amid allegations of laundering substantial sums through corporate entities and property deals.
Justice Joyce Abdulmalik presided over the session on December 30, 2025, granting each defendant bail at N200 million, requiring two sureties in the same amount. The court mandated that one surety per defendant deposit title deeds for properties in Abuja’s upscale Maitama or Asokoro districts. Additionally, the defendants were ordered to surrender their international passports to the court registry.
Until these terms are met, Malami, his wife, and son remain in the custody of the Nigerian Correctional Service, as stipulated by the judge. The matter has been adjourned to March 16, 2026, for the start of trial proceedings.
The Economic and Financial Crimes Commission brought the case, accusing the trio of conspiring to launder approximately N8.7 billion via companies such as Metropolitan Auto Tech Limited and Meethaq Hotels Limited. Prosecutors claim the funds, suspected to stem from unlawful activities, facilitated acquisitions of premium properties in Abuja, Kano, and Kebbi states.
This arraignment followed an initial filing in December 2025, with the defendants pleading not guilty to a 16-count charge encompassing conspiracy, procurement, disguise, concealment, and laundering of illicit proceeds under the Money Laundering (Prevention and Prohibition) Act, 2022.
In a parallel criminal proceeding, Malami and his son face a five-count indictment related to terrorism financing and unlawful firearms possession. The Department of State Services initially handled the case, charging that Malami, during his tenure as Attorney General, neglected to prosecute suspected terrorism financiers whose files reached his office in November 2022.
Further counts allege the pair possessed a Sturm Magnum firearm along with 16 live cartridges and 27 expended ones at their Birnin Kebbi residence in December 2025, contravening the Terrorism (Prevention and Prohibition) Act, 2022, and the Firearms Act.
On March 4, 2026, Attorney General Lateef Fagbemi assumed prosecution from the State Security Service, prompting an adjournment to March 10, 2026, for case file review and witness presentation.
Asset recovery efforts have intensified, with a Federal High Court earlier in 2026 ordering the interim forfeiture of 57 properties tied to Malami, estimated at N213 billion. These include hotels, residences, schools, factories, land parcels, and a printing press across multiple states.
The developments have stirred political discourse, especially after Malami’s switch to the African Democratic Congress from the All Progressives Congress. Supporters contend the charges are politically driven, linked to his defection, while critics view them as accountability for alleged abuses during his 2015-2023 term.
Malami’s stewardship as Nigeria’s chief law officer was marked by persistent scrutiny. Appointed in 2015 by President Muhammadu Buhari, he navigated controversies including the 2017 reinstatement of Abdulrasheed Maina, a fugitive pension fraud suspect, which drew accusations of shielding allies. He faced claims of meddling in the Malabu Oil scandal involving OPL 245, a multibillion-dollar deal plagued by bribery allegations since 2011.
In 2020, Malami authored a memo to Buhari alleging misconduct by EFCC chair Ibrahim Magu, leading to Magu’s suspension and replacement, perceived by some as power consolidation. Civil society groups petitioned for his removal, citing asset sales violating EFCC protocols and family protections from probes.
These episodes reflect broader patterns in Nigeria’s anti-corruption trajectory. Since independence in 1960, corruption has drained over $400 billion, per estimates, fueling underdevelopment and inequality. Military regimes from 1966 to 1999 institutionalized graft, with Sani Abacha’s 1993-1998 rule alone siphoning $2-5 billion.
Post-1999 democracy ushered reforms under Olusegun Obasanjo, who enacted the Corrupt Practices and Other Related Offences Act in 2000, birthing the ICPC, followed by the EFCC in 2003. These bodies recovered billions, including $300 million from Abacha’s loot in 2017 via Malami’s efforts.
Yet, challenges persist. Transparency International’s 2024 Corruption Perceptions Index scored Nigeria 26/100, ranking it 142nd globally. A 2023 UNODC survey found 44% of public service users paid bribes, equating to $1.26 billion or 0.35% of GDP. Reporting rose to 8.6% from 3.6% in 2019, with 45% leading to formal actions.
Buhari’s 2015-2023 administration prioritized anti-graft, convicting 603 figures by 2018. However, public confidence waned from 70% in 2016 to 30% in 2023, per surveys. Initiatives like the 2007 Public Procurement Act and special anti-corruption courts aimed to expedite cases, reducing durations from eight to three-four years.
