A Federal High Court in Abuja has ordered the interim forfeiture of 57 properties linked to former Attorney-General of the Federation, Abubakar Malami, and his sons, Abdulaziz and Abiru-Rahman, worth approximately N213.2 billion. The Economic and Financial Crimes Commission (EFCC) alleged that these properties were acquired through unlawful activities.
The properties, located in Abuja, Kebbi, Kano, and Kaduna, include luxury homes, hotels, schools, factories, and oil and gas filling stations. Some notable assets include:
– *Luxury Duplex*: Amazon Street, Maitama, purchased in December 2022 for N500 million (now valued at N5.95 billion)
– *Meethaq Hotels Ltd*: Jabi, with 53 rooms, purchased in September 2020 for N850 million (now valued at N8.4 billion)
– *Rayhaan University Buildings*: and other educational institutions
– *Agro-Allied Factory Buildings*: and machines
– *Commercial Properties*: shops, warehouses, and plazas
Malami, his wife, Bashir Asabe, and son, Abdulaziz, are facing an N8.7 billion money laundering charge. The court has given them 14 days to show cause why the properties should not be permanently forfeited to the Federal Government.