FULL LIST: EFCC ‘traces 41 properties worth N212bn to Malami’

In a significant move by Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC) has traced 41 properties allegedly belonging to the former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami. The assets, which include a vast array of hotels, residential buildings, schools, and even a printing press, are located across Kebbi, Kano, and the Federal Capital Territory (FCT). The total valuation of these properties is estimated at a staggering N212.89 billion, marking one of the most substantial asset-tracing operations in recent history.  

The federal government has formally filed a 16-count charge of money laundering against the former minister and his son, Abdulaziz Malami. The charges, filed at the Federal High Court in Abuja, accuse the pair of violating Sections 15, 18, and 21 of the Money Laundering (Prevention and Prohibition) Act. Prosecutors allege that the duo utilized various corporate fronts and luxury real estate transactions over a decade to disguise the illicit origin of billions of naira.  

Below is the detailed list of properties allegedly linked to Malami, as identified by investigators:

Kebbi State Properties Total Valuation: N162,195,950,000.00

• Educational Facilities:

• Rayhaan University Permanent Site: N56,000,000,000.00  

• Rayhaan University Temporary Site: N37,800,000,000.00  

• Rayhaan University Third Site: N2,450,000,000.00  

• Rayhaan University Vice Chancellor House: N490,000,000.00  

• Rayhaan Model Academy: N11,200,000,000.00  

• Rayhaan Primary and Secondary School: N8,750,000,000.00  

• Commercial and Industrial Assets:

• Factory Buildings: N4,200,000,000.00  

• Factory Machines and Plants Units: N10,500,000,000.00  

• Factory Mosque: N2,450,000,000.00  

• Rayhaan Mill Staff Quarters (10 units): N1,487,500,000.00  

• Rayhaan Bustan Building: N3,150,000,000.00  

• Printing Press: N1,050,000,000.00  

• Al-Afiya Energy Tanker Garage: N2,450,000,000.00  

• Amasdul Oil and Gas Ltd Structure: N1,050,000,000.00  

• Rayhaan Radio: N78,750,000.00  

• Azbir Brand Properties:

• Azbir Hotel: N10,325,000,000.00  

• Gallery: N581,000,000.00  

• Gardens: N392,000,000.00  

• Mosque: N252,000,000.00  

• Azbir Clothing: N350,000,000.00  

• Azbir Pharmacy and Supermarket: N175,000,000.00  

• Residential and Foundations:

• Malami House GRA: N350,000,000.00  

• Malami House Behind Mobil: N490,000,000.00  

• Malami Residence Behind Cemetery: N350,000,000.00  

• Abdulaziz (First Son House): N1,659,000,000.00  

• Ahbiru (Second Son House): N2,989,000,000.00  

• Malami Support Organization Building ADC: N210,000,000.00  

• Kadi Malami Foundation Building: N56,000,000.00  

• Rayhaan Security House: N245,700,000.00  

• Uncompleted 3-Storey Complex: N665,000,000.00  

Kano State Properties Total Valuation: N16,011,800,000.00

• Zeennoor Hotel: N11,200,000,000.00  

• Zeennoor Mosque: N84,000,000.00  

• Zeennoor Old Hotel Building: N280,000,000.00  

• Rayhaan Hotel Kano: N2,240,000,000.00  

• Rayhaan Gym Kano: N1,225,000,000.00  

• Wife’s House (Ahmadu Bello Way, Kano): N982,800,000.00  

FCT Abuja Properties Total Valuation: N34,685,000,000.00

• Duplex at Amazon Street, Maitama: N5,950,000,000.00  

• Meethaq Hotel (Jabi Branch): N8,400,000,000.00  

• Meethaq Hotel (Maitama Branch): N12,950,000,000.00  

• 42 Units of Bungalow at Efab Estate: N385,000,000.00  

• Harmonia Hotels, Area 11 Garki: N7,000,000,000.00  

Grand Total Valuation: N212,892,750,000.00  

The EFCC is expected to continue its investigation into the funding sources for these multi-billion naira acquisitions