Abubakar Abdulaziz Malami, son of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, was at the centre of a courtroom drama on Friday, March 6, 2026, as a prosecution witness detailed how millions of naira reportedly flowed from individuals and companies to service a loan linked to Rayhaan Hotels Limited, a hotel allegedly owned by the Malami family.
The trial, before Justice Joyce Abdulmalik of the Federal High Court in Maitama, Abuja, involves the former AGF, his wife Hajia Bashir Asabe, and their son. They face an amended 16-count charge by the Economic and Financial Crimes Commission (EFCC) relating to conspiracy, money laundering, and concealing proceeds of unlawful activities, amounting to N8.7 billion, contrary to the Money Laundering (Prevention and Prohibition) Act 2022.
David Ajoma, a compliance officer with Sterling Bank, testified that on December 22, 2025, the bank received a request from the EFCC for documents relating to a loan facility, including records connected with Metropolitan Auto Tech Limited, which served as collateral for Rayhaan Hotels Limited.
The documents, admitted as Exhibit A series by the court, showed that in February 2021, Abubakar Abdulaziz Malami applied for a N600 million loan using Metropolitan Auto Tech Limited’s account as security. Ajoma enumerated a series of deposits into the account from September 2020, citing inflows from individuals and businesses including Alhaji Ibrahim, Hussaini Jajaye Rogo Enterprises, Yusuf Umar, and Nafiu Muhammad Abubakar.
Millions allegedly funneled to service loan linked to Malami’s son, court hears
Innocent Raphael12 hours ago
2 minutes read
Abubakar Abdulaziz Malami, son of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, was at the centre of a courtroom drama on Friday, March 6, 2026, as a prosecution witness detailed how millions of naira reportedly flowed from individuals and companies to service a loan linked to Rayhaan Hotels Limited, a hotel allegedly owned by the Malami family.
The trial, before Justice Joyce Abdulmalik of the Federal High Court in Maitama, Abuja, involves the former AGF, his wife Hajia Bashir Asabe, and their son. They face an amended 16-count charge by the Economic and Financial Crimes Commission (EFCC) relating to conspiracy, money laundering, and concealing proceeds of unlawful activities, amounting to N8.7 billion, contrary to the Money Laundering (Prevention and Prohibition) Act 2022.
David Ajoma, a compliance officer with Sterling Bank, testified that on December 22, 2025, the bank received a request from the EFCC for documents relating to a loan facility, including records connected with Metropolitan Auto Tech Limited, which served as collateral for Rayhaan Hotels Limited.
The documents, admitted as Exhibit A series by the court, showed that in February 2021, Abubakar Abdulaziz Malami applied for a N600 million loan using Metropolitan Auto Tech Limited’s account as security. Ajoma enumerated a series of deposits into the account from September 2020, citing inflows from individuals and businesses including Alhaji Ibrahim, Hussaini Jajaye Rogo Enterprises, Yusuf Umar, and Nafiu Muhammad Abubakar.
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On the deposits into the Rayhaan Hotels account, Ajoma told the court:
“On January 17, 2024, the Rayhaan Hotels account received N19 million from Audu Bashir, N10 million from Audu Police, N11 million from JS Poultry Business Ventures, and N50 million from Oboven General Enterprises. The following day, January 18, it received N41,848,500 from Oboven General Enterprises. There were also entries of N100 million from Nazhaf Limited on October 17, 2024, and other significant inflows.”
Ajoma confirmed that the accounts of Rayhaan Hotels Limited and Metropolitan Auto Tech Limited were separate, with distinct signatories. During cross-examination, he acknowledged his eight years of banking experience and distinguished between his role as a compliance officer and a relationship officer, but could not confirm whether any suspicious transaction reports had been filed in relation to the accounts
The court subsequently heard from the defence, which applied for bail for all three defendants. Justice Abdulmalik granted bail of N200 million each, with two sureties per defendant, requiring developed properties in Asokoro and Maitama. The defendants were also ordered to surrender their international passports, while the sureties had to provide affidavits of means and verified passport photographs. Pending the completion of these conditions, the defendants were remanded at Kuje and Suleja correctional facilities, with trial adjourned to March 16, 2026.
