Malami Battles EFCC in Court Over ₦15.5bn Assets, Files 40-Page Defence

Malami Battles EFCC in Court Over ₦15.5bn Assets, Files 40-Page Defence

Former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), has filed a 40-page counter-affidavit before the Federal High Court in Abuja, opposing the Economic and Financial Crimes Commission’s (EFCC) move to permanently forfeit more than 50 properties allegedly linked to him, his family, and 14 companies.

The EFCC had earlier secured an interim forfeiture order on January 6, 2026, in Suit No. FHC/ABJ/CS/20/2026, granted by Justice Emeka Nwite, placing the assets under temporary control pending determination of the substantive case. The properties reportedly include houses, hotels, schools, factories, and landed assets across Abuja, Kano, and Kebbi States, which the EFCC described as “reasonably suspected to be proceeds of unlawful activities.”

Malami strongly rejected the allegation, insisting in his affidavit that there was no prima facie evidence linking the properties to any unlawful activity. He maintained that all assets were lawfully acquired, properly documented, and declared to the Code of Conduct Bureau (CCB) long before the EFCC began its investigation.

To support his defence, Malami presented a breakdown of what he described as ₦15.5 billion in lawful income between 2015 and 2023. According to him, the funds include ₦374.6 million earned as salary and allowances during his tenure as Attorney-General, ₦10.01 billion from business turnover, ₦3.52 billion in bank loans, ₦958 million received as wedding gifts, and ₦509.8 million from book launches.

He also listed several companies linked to his investments, including Rayhaan Hotels, Zeennoor Hotels, Meethaq Hotels, Rayhaan Bustan Agro Allied, Azbir Arena, and Rayhaan University. Malami further accused the EFCC of inflating asset valuations, claiming that a Maitama property valued at ₦5.95 billion by the commission was actually purchased for about ₦500 million. He also disputed the ₦56 billion valuation of Rayhaan University’s permanent site, insisting independent valuation reports supported much lower figures.

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In a more personal section of his affidavit, Malami alleged that EFCC operatives forcibly evicted his family from six Abuja properties on March 24, 2026, before any final forfeiture order was issued. He claimed his wives and children, including minors, were removed from the homes, while important documents were allegedly seized during a 25-day detention in December 2025.

He further alleged that the interim order has already affected his businesses, saying NEXIM Bank recalled a ₦1.122 billion loan linked to one of his companies, while Zenith Bank began imposing additional charges on related facilities following the court ruling.

Malami also argued that several of the disputed properties were acquired before his tenure as Attorney-General between 2006 and 2013, including assets linked to Rayhaan Hotel in Kano and the Malami Support Organisation Building. He added that some properties were tied to pre-existing legal and business arrangements, while others belonged to his late father’s estate and were held in trust for family members.

He referenced asset declaration forms submitted to the Code of Conduct Bureau in 2015, 2019, and 2023, insisting all contested properties were properly declared before the EFCC case began.

The case is also tied to an ongoing criminal matter marked FHC/CR/700/2025, in which Malami has pleaded not guilty. His legal team argues that since the allegations are still being contested in court, the EFCC’s forfeiture application is premature.

Malami’s counsel, J.B. Daudu (SAN), described the EFCC’s interim order as based on speculation rather than evidence, insisting that due process must be followed before any permanent seizure can be made.

The court has directed interested parties to show cause why the assets should not be permanently forfeited to the Federal Government. Justice Emeka Nwite is expected to fix a hearing date to determine whether the interim order will be lifted or made final.

For now, the properties remain under EFCC custody pending the court’s final decision, while both parties prepare for a major legal showdown. The EFCC has not issued any fresh public comment on Malami’s latest filing.

 

Malami Battles EFCC in Court Over ₦15.5bn Assets, Files 40-Page Defence