Amanze Chinonye
Nigeria’s anti-graft drive against former top officials intensified this week as the Economic and Financial Crimes Commission (EFCC) widened its investigation into ex-Attorney-General of the Federation, Abubakar Malami, SAN, uncovering what it describes as a sprawling asset network valued at over N212.8 billion, Prime Business Africa reports.
Investigators say the probe has moved beyond preliminary allegations to a detailed mapping of 41 high-value properties allegedly linked to Malami, his son Abdulaziz, and associated fronts across Kebbi State, Kano State and the Federal Capital Territory (FCT).
The assets range from universities and hotels to factories, media outfits, residential estates and other commercial ventures.
Join our WhatsApp ChannelAt the centre of the investigation is Rayhaan University in Kebbi State, which EFCC sources describe as one of the most capital-intensive assets under scrutiny.
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The permanent and temporary campuses alone are valued at nearly N94 billion, while additional university-related properties, schools and industrial facilities in the state push the Kebbi portfolio to over N162 billion by far the largest concentration of assets identified so far.
Beyond Kebbi, investigators have traced luxury hospitality businesses in Kano, including Zeennoor Hotel and Rayhaan Hotel, alongside gyms, mosques and private residences, collectively valued at about N16 billion. In Abuja, attention has focused on Meethaq Hotels in Jabi and Maitama, Harmonia Hotels in Garki, and prime residential properties in Maitama and Efab Estate, with the FCT assets estimated at N34.69 billion.
According to the EFCC, many of the properties were allegedly acquired through proxies and corporate vehicles, a pattern investigators say fits a broader strategy to disguise the origin and ownership of funds suspected to be proceeds of unlawful activity.
The findings have now crystallised into formal charges, with the federal government filing a 16-count money laundering case against Malami, his son and an associate under the Money Laundering (Prevention and Prohibition) Act. Prosecutors allege that the defendants concealed and converted illicit proceeds while exploiting public office and influence for private enrichment.
The asset revelations come amid a parallel courtroom dispute over Malami’s detention, following conflicting interpretations of an interim bail order granted on December 23, 2025. While Malami’s legal team insists his continued detention is unlawful, the EFCC maintains that valid remand orders remain in force and that no binding directive for his release has been properly served.
With the matter set to return to court on January 5, 2026, and the disputed assets still under freeze, the investigation is entering a decisive phase.
As Prime Business Africa observes, the breadth of properties now linked to the former justice minister has shifted the narrative from a routine corruption allegation to one of the most expansive asset-tracing exercises involving a former senior law officer of the federation, intensifying scrutiny of Nigeria’s anti-corruption resolve.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
