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By Correspondent in Abuja.
The Economic and Financial Crimes Commission (EFCC) on Friday opened its case against former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, his wife, Asabe Bashir, and their son, Abdulaziz Malami, in an alleged N8.7 billion money laundering trial.
Justice M.J. Abdulmalik of the Federal High Court in Abuja directed the anti-graft agency to call its first witness when the matter came up for hearing.
At the proceedings, defence counsel, Joseph Daudu, SAN, attempted to draw the court’s attention to a pending bail application filed on behalf of the defendants.
However, Justice Abdulmalik declined the request, reminding the lawyer that an earlier order had been made that the application would only be taken after the prosecution’s first witness had testified.
Following the directive, the counsel to the EFCC, Jibrin Okutepa, SAN, called the first prosecution witness (PW-1), David Ajoma, a banker.
Ajoma, while giving evidence, told the court that he works as a compliance officer with Sterling Bank in Abuja.
He said he had been with the bank for three years and is responsible for handling compliance requests from law enforcement agencies.
The witness said that on Dec. 2, 2025, the bank received a request from the EFCC seeking details of loan facilities granted to Rayham Hotel Limited.
According to him, Sterling Bank subsequently forwarded the requested documents to the commission, including the account opening package, loan account statements, and other supporting records.
Led in evidence-in-chief by Okutepa, the witness further testified that the loan facility granted to Rayham Hotel Limited was backed by cash collateral from Metropolitan Autotech.
Ajoma explained that both Metropolitan Autotech and Rayham Hotel Limited maintain separate accounts with Sterling Bank.
He added that the signatory to the Metropolitan Autotech account is one Hassan Aliyu.
Under cross-examination by Daudu, the witness admitted that he was not the relationship manager for either Rayham Hotel Limited or Metropolitan Autotech accounts and therefore had no direct knowledge of the specific details or purposes of the inflows into the accounts.
He also confirmed that the name of the former AGF, Malami, did not appear on the loan application documents presented before the court.
According to him, the only name appearing on the loan application was Abdulaziz Malami, who signed as the Managing Director of Rayham Hotel Limited.
Ajoma further told the court that none of the transactions reviewed by the bank originated from any government account, the Federal Ministry of Justice, or from Malami personally.
The witness also stated that, based on the documents before the court, he could not identify any suspicious transaction linked to the accounts under review.
He added that no transaction was found to be in breach of regulations issued by the Central Bank of Nigeria.
After the witness concluded his testimony, Daudu moved the bail application for Malami, his wife, and their son.
Although Okutepa informed the court that the commission would not oppose the application, he urged the judge to impose conditions that would guarantee the defendants’ availability for trial.
Justice Abdulmalik subsequently granted the bail application and admitted the trio to bail in the sum of N200 million each, with two sureties each in like sum.
The judge ordered that one of the sureties must deposit the title deed of a landed property located in Maitama or Asokoro, Abuja, with the court registrar.
She also directed the defendants to deposit their international passports with the court and ruled that they be remanded in Kuje and Suleja Correctional Centres pending the perfection of their bail conditions.
Our correspondent reports that Malami, Asabe, and Abdulaziz are being prosecuted on a 16-count charge bordering on alleged money laundering to the tune of N8.7 billion.
Justice Abdulmalik had, on Feb. 27, granted bail to Malami and Abdulaziz in the sum of N200 million each with two sureties in like sum in a separate case earlier filed by the Department of State Services (DSS) over allegations of terrorism and illegal possession of firearms.
The case has since been taken over by the office of the current Attorney-General of the Federation, Lateef Fagbemi, SAN.
Edited by Dada Ahmed.
