My people, wahala no dey finish! The Economic and Financial Crimes Commission (EFCC) is seriously on the heels of former Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, SAN. They are pushing hard for the permanent forfeiture of a whopping 57 properties linked to him and his family to the Federal Government. This isn’t just small talk; the anti-graft agency has gone to the Federal High Court in Abuja, arguing why these properties should be taken over for good.
The EFCC’s Case: Why They Want Malami’s Properties
The EFCC, through its legal team led by SANs Jibrin Okutepa and Ekele Iheanacho, told Justice Joyce Abdulmalik that Malami hasn’t shown enough proof that he genuinely owns these properties. According to them, the earlier interim order that froze these assets should now be made permanent. They filed a motion, marked FHC/ABJ/CS/20/2026, listing Malami, his son Abdulaziz, his wife Hajia Bashir Asabe, and Abiru’ Rahman Abubakar Malami as key respondents. Beyond that, several companies like Rayhaan Bustan and Agro Allied Ltd, Mountain View Gold and Jewellery Ltd, and Meethaq Hotels Ltd are also caught in this web.
The anti-graft agency is relying on Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act of 2006. They want a ‘final order’ from the court to forfeit these properties, which they suspect are proceeds of illegal activities. Okutepa argued that the court has the power to grant this, emphasizing that it’s a non-conviction-based asset forfeiture case. Simply put, they believe these properties were acquired through shady means.
The Investigation: Digging Deep into Malami’s Finances
An investigating officer with the EFCC’s Special Duties Committee, Daniel Adebayo, spilled the beans in an affidavit supporting the motion. He revealed that the commission got several petitions against Malami, alleging serious corruption, abuse of office, and fraud. His team didn’t just sit around; they embarked on a thorough investigation, scrutinizing financial records from commercial banks and the Central Bank of Nigeria (CBN). They also reached out to the Corporate Affairs Commission (CAC), the Federal Inland Revenue Services (FIRS), the Code of Conduct Bureau (CCB), and even land registries in Kebbi, Sokoto, and Kano States.
Adebayo highlighted Malami’s lawful income as a minister between 2015 and 2023, which included salaries, allowances, and estacodes. However, he stated that these earnings were nowhere near enough to explain the alleged properties he acquired. For context, Malami reportedly earned about N89.6 million in salary during his eight years in office, plus a N12.1 million severance allowance. Even with estacodes for official trips, totaling about N253.6 million, the EFCC believes these amounts don’t add up to the value of the 57 properties.
The EFCC also pointed out that many of the structures in Kano and Kebbi States lacked proper building permits, suggesting a deliberate attempt to hide the illegal origin of the funds used to acquire them. They allege that Malami indirectly acquired some of these assets, either in his name or through ‘front companies’ under the Rayhaan Group Ltd.
What’s Next for Malami and the Properties?
The list of properties is extensive, covering Abuja, Kebbi, Kano, and Kaduna States, including the temporary and permanent sites of Rayhaan University in Kebbi. Justice Abdulmalik has set April 21 for the hearing of the EFCC’s motion. This isn’t the first time these properties have been in the news; another court, presided over by Justice Emeka Nwite, had earlier ordered an interim forfeiture of these assets in January, instructing the EFCC to publish the order in a national daily so anyone with an interest could show cause why they shouldn’t be permanently forfeited. Malami and the other respondents have, of course, challenged this, asking the court to vacate the interim order.
This case is definitely one to watch, as it highlights the ongoing fight against corruption in Nigeria and the EFCC’s determination to recover alleged ill-gotten wealth. For more insights on financial matters and how to navigate the Nigerian economy, you might want to check out our other articles: 5 Legit Ways to Earn Dollars in Nigeria This 2026 (No Hype!), Why POS Business is Still a Goldmine in Nigeria and How to Start Small, Wahala! Nigerian Government Hikes Gas Prices: What This Means For Your Pocket, Phyno, Ezege, and Top Stars Trending: The Latest Buzz in the Nigerian Music Scene, and How to Use AI to Scale Your Small Business in Nigeria Without Spending a Kobo.
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