The Economic and Financial Crimes Commission (EFCC) has traced no fewer than 41 properties valued at about N212.89 billion to a former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN).

The properties, according to findings by the anti-graft agency, are spread across Kebbi State, Kano State and the Federal Capital Territory (FCT), Abuja, and include hotels, residential buildings, schools, lands, factories and a printing press.

Investigations revealed that most of the assets were allegedly acquired during Malami’s eight-year tenure in office between 2015 and 2023, under the administration of the late President Muhammadu Buhari.

A breakdown of the valuation showed that properties located in Kebbi State are estimated at N162.19 billion, while those in Kano State are valued at N16.01 billion. Assets traced to the FCT were put at N34.69 billion.

Meanwhile, the Federal Government has instituted a 16-count charge bordering on money laundering against Malami and his son, Abdulaziz Malami, before a competent court.

The duo is accused of committing offences contrary to Sections 15, 18 and 21 of the Money Laundering (Prevention and Prohibition) Act.

Kebbi State Properties
The EFCC listed properties in Kebbi State with a total estimated value of N162,195,950,000.
They include several educational institutions under the Rayhaan brand, namely:
Rayhaan University Permanent Site – N56 billion
Rayhaan University Temporary Site – N37.8 billion
Rayhaan University Third Site – N2.45 billion
Rayhaan University Vice Chancellor’s House – N490 million
Rayhaan Model Academy – N11.2 billion
Rayhaan Primary and Secondary School – N8.75 billion

Also listed are industrial and commercial assets, including Rayhaan Agro-Allied Factory buildings, factory machines and plants, staff quarters, a mosque, a printing press, an oil and gas facility, and a radio station.

Hospitality and commercial ventures under the Azbir brand were also traced, including Azbir Hotel, gardens, gallery, mosque, clothing outlet, pharmacy and supermarket.

In addition, several residential properties linked to Malami, his sons and foundations allegedly associated with him were identified, alongside an uncompleted three-storey complex.

Kano State Properties
Assets in Kano State were valued at N16,011,800,000.

They include Zeennoor Hotel, an old hotel structure, a mosque, Rayhaan Hotel Kano, a gymnasium, and a residential property reportedly belonging to Malami’s wife along Ahmadu Bello Way, Kano.

FCT Abuja Properties
Properties traced to Abuja were valued at N34,685,000,000.

They include a duplex in Maitama, Meethaq Hotels in Jabi and Maitama, 42 units of bungalow at Efab Estate, and Harmonia Hotels in Area 11, Garki.

The EFCC said investigations into the source of funds used in acquiring the properties are ongoing, while efforts are being intensified to ensure diligent prosecution of the case.

The commission reiterated its commitment to asset recovery, transparency and accountability, stressing that no individual is above the law.