Nigeria’s Economic and Financial Crimes Commission (EFCC) has traced 41 properties worth N212.9 billion to former Attorney-General Abubakar Malami, who served under President Muhammadu Buhari from 2015 to 2023.
The assets, including hotels, schools, factories, and residences, span Kebbi, Kano, and Abuja, amid allegations of money laundering and misuse of recovered looted funds like the Abacha loot.
Malami and his son Abdulaziz face 16-count charges; he remains detained after breaching bail.
The probe highlights suspicious deals, including $496 million paid to Global Steel Holdings, $200 million to Sunrise Power, and missing $344 million from repatriated funds.
EFCC links 46 bank accounts to Malami, with some funds allegedly funneled to terrorism suspects.
List of assets
- Rayhaan University Permanent Site: N56,000,000,000
- Rayhaan University Temporary Site: N37,800,000,000
- Rayhaan University Third Site: N2,450,000,000
- Rayhaan University Vice Chancellor House: N490,000,000
- Rayhaan Model Academy: N11,200,000,000
- Rayhaan Primary and Secondary School: N8,750,000,000
- Rayhaan Agro Allied Factory Buildings: N4,200,000,000
- Rayhaan Agro Allied Factory Machines and Plants Units: N10,500,000,000
- Rayhaan Agro Allied Factory Mosque: N2,450,000,000
- Rayhaan Mill Staff Quarters (10 units): N1,487,500,000
- Rayhaan Bustan Building: N3,150,000,000
- Printing Press: N1,050,000,000
- Al-Afiya Energy Tanker Garage: N2,450,000,000
- Amasdul Oil and Gas Ltd Structure: N1,050,000,000
- Rayhaan Radio: N78,750,000
- Azbir Hotel: N10,325,000,000
- Azbir Gallery: N581,000,000
- Azbir Gardens: N392,000,000
- Azbir Mosque: N252,000,000
- Azbir Clothing: N350,000,000
- Azbir Pharmacy and Supermarket: N175,000,000
- Malami House GRA: N350,000,000
- Malami House Behind Mobil: N490,000,000
- Malami Residence Behind Cemetery: N350,000,000
- Abdulaziz (First Son House): N1,659,000,000
- Ahbiru (Second Son House): N2,989,000,000
- Malami Support Organization Building ADC: N210,000,000
- Kadi Malami Foundation Building: N56,000,000
- Rayhaan Security House: N245,700,000
- Uncompleted 3 Storey Complex: N665,000,000
- Kano State Properties (Total: ~N16.01 billion)
- Rayhaan Energy Filling Station: N8,400,000,000
- Rayhaan Agro Allied Factory: N4,375,000,000
- Rayhaan Agro Allied Staff Quarters: N1,050,000,000
- Rayhaan Energy Staff Quarters: N1,050,000,000
- Rayhaan Energy Mosque: N136,800,000
- FCT Abuja Properties (Total: ~N34.69 billion)
- Azbir Hotel: N28,000,000,000
- Malami Residence: N4,900,000,000
- Malami Residence 2: N1,050,000,000
- Malami Residence 3: N735,000,000
Malami denies wrongdoing, calling it a political witch-hunt and arguing that his wealth stems from 40 years of legal practice and legitimate investments
Administrator and Writer
