A Federal High Court sitting in Abuja has granted bail to former Attorney-General of the Federation, Abubakar Malami, along with his wife, Asabe Bashir, and their son, Abdulaziz, in an ongoing trial over an alleged N8.7 billion money laundering scheme.
The ruling was delivered by Justice Joyce Abdulmalik, who approved bail for the three defendants in the sum of N200 million each.
As part of the bail conditions, the court directed that each defendant must provide two sureties who own verifiable property in high-value districts within Abuja.
In addition to the surety requirements, the court ordered the defendants to surrender their international passports and restricted them from travelling outside Nigeria without prior permission from the court.
The case is being prosecuted by the Economic and Financial Crimes Commission (EFCC), which alleges that about N8.7 billion was concealed through various companies, including Rayhaan Hotels. Prosecutors claim the funds were moved through financial channels in a manner that raised concerns about possible money laundering activities.
During the court proceedings, the prosecution presented its first witness, an official from Sterling Bank, who testified about a N500 million loan transaction linked to the investigation. According to the witness, the loan documentation did not directly connect Malami to the transaction, and no suspicious activity was flagged at the time the facility was processed.
Despite this testimony, the EFCC maintains that the broader financial transactions connected to the case warrant further scrutiny as the trial progresses.
Malami, who previously served as Nigeria’s Attorney-General under former President Muhammadu Buhari, is currently facing additional investigations while also pursuing political ambitions ahead of the Kebbi State governorship race.
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Justice Abdulmalik adjourned the matter until March 16 for continuation of the trial, when more witnesses are expected to testify as the court examines the allegations in detail.