Court Hears How N8.7bn Alleged Fraud Funds Were Routed Through Companies Linked to Malami Family
A Federal High Court in Abuja has heard detailed testimony about how nearly N8.7 billion allegedly connected to fraud was moved into accounts linked to former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami, his wife, and his son.
During proceedings, two prosecution witnesses from financial institutions described how the funds were paid into accounts belonging to several corporate entities tied to the Malami family. These companies include Meethaq Hotels Limited, Rayhaan Bustan, Agro Allied Ltd, and Khadimiya for Justice and Development Initiative.
The testimonies, presented by officials under oath, outlined how documentation was prepared and transferred to investigators from the Economic and Financial Crimes Commission (EFCC) as part of the ongoing prosecution.
The defendants are facing trial on charges of money laundering and related offences allegedly involving the transfer and concealment of proceeds suspected to stem from unlawful activities totalling about N8.7 billion.
The prosecution’s case is part of a broader legal process, and matters remain before the court as hearings continue.
