The Economic and Financial Crimes Commission (EFCC) on Monday, March 16, tendered fresh bank records against former Attorney General of the Federation (AGF), Abubakar Malami, his wife, Asabe Bashir, and son, Abdulaziz Malami, before the federal high court, Abuja, in the ongoing ₦8.7 billion money laundering trial.
The defendants are being prosecuted on an amended 16-count charge bordering on conspiracy, money laundering, and concealment of proceeds of unlawful activities totalling ₦8.7 billion, contrary to the provisions of the money laundering (prevention and prohibition) act, 2022.
During the proceedings, prosecution counsel Jibrin Okutepa called two compliance officers to testify as to how millions of naira were funneled through corporate accounts linked to the Malami family.
The second prosecution witness, Daniel Kwayil, a compliance officer with Union Bank, presented documents relating to Meethaq Hotels Limited.
He testified that the EFCC had requested documents relating to the company, including account-opening records, certificates of compliance, and statements of account, in 2025.
The documents, dated December 23, 2025, were admitted in evidence and marked as exhibit B series after defence counsel J.B. Daudu raised no immediate objection.
Testifying on the account transactions, Kwayil revealed a series of significant transfers from Meethaq Hotels Limited to the first defendant.
According to him, on February 5th, 2024, ₦14 million was transferred to Malami, followed by ₦24 million on March 4th, 2024.
He further disclosed that ₦24 million was transferred to A.A. Malami and Co on February 3rd, 2024, and ₦12.5 million to A.A. Malami on May 3rd, 2024.
Kwayil also identified Asabe as the sole signatory to the Meethaq Hotels Limited account, a fact supported by a board resolution contained in the account opening documents.
He noted that her identification card appeared on pages 11 and 12 of the account documents.
Kwayil further outlined a series of inflows into the Meethaq Hotels Limited account spanning November 2022 to April 2023, including two deposits totalling over ₦22.9 million on November 3rd, 2022, ₦20 million from YMB Energy Limited on November 28, 2022, and ₦43.1 million on January 10, 2023.
Under cross-examination by Daudu, Kwayil acknowledged that he was not the relationship manager of the Meethaq Hotels account and that he did not know the purpose of the transactions.
The prosecution subsequently called Olomotane Egoro, a compliance officer with Access Bank, as the third prosecution witness.
Egoro told the court that the bank received requests from the EFCC in 2025 and 2026 for documents relating to two accounts, Rayhaan Bustan and Agro Allied Nigeria Limited, and Khadimiyya for Justice and Development Initiative, which are both linked to members of the Malami family.
Despite an initial objection from Daudu over the witness’s statement, Justice Joyce Abdulmalik overruled the objection, holding that Access Bank had been listed among the institutions expected to testify.
The documents were admitted as exhibits C1 and C2.
Testifying on exhibit C1, Egoro revealed that Rayhaan Bustan and Agro Allied Nigeria Limited, with Abdulaziz as its sole signatory, received a ₦400 million loan from Access Bank on October 9, 2020, which was fully repaid on July 14, 2022.
He told the court that on the same day the loan was disbursed, ₦100 million was transferred to New Horizon Limited, followed by five additional transfers of ₦20 million each to the same company on November 10, 2020.
Total lodgments into the account between March 2020 and January 2025 amounted to ₦1.857 billion.
On exhibit C2, relating to the Khadimiyya for Justice and Development Initiative account, Egoro disclosed that the first deposit into the account was made by Abubakar Abdulaziz Malami himself, who paid ₦500,000 on October 17, 2019, and another ₦500,000 on October 23, 2019.
Subsequent deposits from various individuals and companies followed, including ₦8 million from Afuwa Services Limited and ₦10 million from Afuwa Integrated Services Limited.
Total lodgments into the account between October 2019 and December 2023 stood at ₦722 million.
Under cross-examination, Egoro clarified that he was invited to testify by the EFCC through his bank and not by subpoena, and that he was not an EFCC staff member.
He also stated that he was unaware of the purpose of the payments reflected in the account statements.
Justice Abdulmalik adjourned the matter until April 20 for the continuation of the trial.
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