Abubakar Malami N8.7bn Money Laundering Trial
Analysis based on 19 articles · First reported Apr 20, 2026 · Last updated Apr 21, 2026
The ongoing money laundering trial of former Attorney-General Abubakar Malami and his family in Nigeria could negatively impact investor confidence in the country's governance and rule of law, particularly concerning corruption. The involvement of Zenith Bank in providing evidence highlights the scrutiny financial institutions face in combating illicit financial flows.
The Nigeria — Federal High Court of Nigeria in Abuja, presided over by Justice Joyce Abdulmalik, admitted nine documentary exhibits against former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, his wife Hajia Bashir Asabe, and his son Abdulaziz Al-Ammar. The Nigeria — Economic and Financial Crimes Commission is prosecuting the defendants on a 16-count charge of conspiracy and money laundering, involving N8.7 billion. The exhibits, primarily banking documents from Zenith Bank, were presented by Mashelia Arhyel Bata, a compliance officer, detailing significant financial transactions in accounts linked to Abubakar Malami and associated companies like Rayhaan Hotels Limited, Rayhaan Bustan and Agro Allied Ltd, Nashab Limited, Liquefied natural gas, Rahamaniyya Properties Limited, and New Horizons Limited. The trial has been adjourned until May 13, 2026, for cross-examination.
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