A Federal High Court sitting in Abuja has fixed January 7 for ruling on bail applications filed by the immediate past Attorney General of the Federation Abubakar Malami and two other defendants in an alleged N8.7 billion money laundering case.
The other defendants are Abdulaziz Malami the son of the former minister and Hajia Bashir Asabe an employee of Rahamaniyya Properties Limited a company allegedly linked to Malami.
Justice Emeka Nwite adjourned the matter on Friday after listening to arguments from lawyers representing both the prosecution and the defence.
Malami and his son are currently being held at the Kuje Correctional Centre in Abuja while Hajia Asabe is detained at the female wing of the Suleja Correctional Centre in Niger State.
The trio are facing a sixteen-count charge filed by the Economic and Financial Crimes Commission EFCC and marked FHC/ABJ/CR/700/2025.
According to the EFCC the defendants allegedly conspired to conceal the origin of funds estimated at ₦8.7 billion acquire properties through indirect means and retain proceeds believed to be linked to unlawful activities. The alleged offences are said to violate provisions of the Money Laundering Prevention and Prohibition Acts of 2011 as amended and 2022.
Counsel to the defendants Joseph Daudu, SAN urged the court to grant bail to his clients arguing that the alleged offences are bailable. He also appealed to the court to consider the status of the first defendant and to grant bail on liberal terms.
However prosecuting counsel Ekele Iheanacho, SAN opposed the application and urged the court to refuse bail although he acknowledged that granting bail rests within the discretion of the court.
In a separate ruling delivered earlier on Friday Justice Nwite granted bail to the Bauchi State Commissioner for Finance Yakubu Adamu in the sum of ₦500 million over a related money laundering charge.
The judge held that the prosecution failed to provide convincing reasons that Adamu would abscond or interfere with the trial if granted bail. He stressed that the discretion to grant bail must be exercised judicially and judiciously.
As part of the bail conditions the court ordered Adamu to provide two sureties who must be land owners within Maitama Asokoro or Gwarinpa districts of Abuja. The sureties are also required to submit affidavits of means.
Justice Nwite further directed that Adamu and his sureties must deposit their international passports with the court registrar and must not travel outside the country without court approval. Two passport photographs are also to be submitted.
The judge ordered that Adamu be remanded in Kuje Correctional Centre until he meets the bail conditions and adjourned the case to January 20 for commencement of trial.
Adamu is standing trial alongside Ayab Agro Products and Freight Company Limited in a charge marked FHC ABJ/CR/694/2025 filed by the EFCC. The defendants are accused of laundering approximately ₦4.6 billion.
In one of the counts Adamu while serving as Branch Manager of Polaris Bank Bauchi allegedly conspired with Ishaku Mohammed Aliyu Managing Director of Makayye Investment Resources Limited and Muntaka Mohammed Duguri both currently at large to facilitate the conversion transfer concealment and use of ₦4.65 billion.
The funds were allegedly released by Polaris Bank under the guise of financing the supply of motorcycles to the Bauchi State Government through Emmanuel Asomugha General Enterprises. The EFCC claimed that the motorcycles were never supplied.
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