Justice Emeka Nwite also ordered the remand of his co-defendants, including his son, Abubakar Malami, and one of his wives, Bashir Asabe. The order followed arguments from the defense team led by Joseph Daudu and the prosecution counsel Ekele Iheneacho.
Malami and his co-defendants face a 16-count money laundering charge filed by the Economic and Financial Crimes Commission. The EFCC alleges that the defendants conspired to conceal, retain, and disguise proceeds of unlawful activities amounting to billions of naira.
The charges span several years and involve the use of companies and bank accounts for money laundering, retention of cash as loan collateral, and acquisition of high-value properties in Abuja, Kano, and other locations. The EFCC further alleges that some offenses occurred during Malami's tenure as AGF, violating the Money Laundering (Prohibition) Act 2011 and the Money Laundering (Prevention and Prohibition) Act 2022.
More details to follow.
