The former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, SAN, who is currently facing money laundering charges, has provided a detailed explanation of his wealth to the Federal High Court in Abuja.
Malami is petitioning the court to release three of the 57 properties recently seized by the Economic and Financial Crimes Commission (EFCC), asserting that one was an inheritance from his father while others were purchased before he took office.
The assets in question include a property in Kano, a duplex in Abuja valued at N150 million, and a foundation building worth N56 million.
Through his legal team, led by Joseph Daudu, SAN, Malami filed a motion seeking “An order of this honourable court vacating, setting aside and/or discharging the interim order(s) of this honourable court made on the 6th of January, 2026 against the respondent/applicant’s (Malami’s) properties listed as Nos. 9, 18, and 48… the said properties having been duly declared in the respondent/applicant’s asset declaration forms throughout his tenure as a public officer.”
He also requested an order restraining the EFCC from interfering with these specific assets.
The former minister insisted that all his properties were transparently declared to the Code of Conduct Bureau (CCB) and that the EFCC has failed to provide evidence that they were bought with criminal proceeds.
Regarding his father’s estate, he noted, “These assets, their value and their root of title have been clearly stated and specifically demonstrated in the various asset declaration forms spanning from 2019 to 2023. The declaration above is prima facie evidence of the legitimacy of the acquisition and ownership of the properties.”
To justify his financial standing, Malami provided the court with a breakdown of his income sources, including:
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Over N374 million from official salaries and allowances.
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N574 million from the sale of assets.
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More than N10 billion in business turnover.
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N2.5 billion in business loans.
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N958 million received as “a traditional gift from personal friends.”
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N509 million generated from his book launch.
Malami argued that these funds “sufficiently show that the properties sought to be forfeited were acquired through legitimate and lawful means.”
He accused the EFCC of misleading the court through “manifest exaggeration, malicious inflation of the value of the assets, and unreasonable and incompetent valuation deliberately manipulated to mislead the court.”
He further characterized the legal action as “an assault on the applicant’s fundamental right to property, his presumption of innocence and his right to live in peace with his family.”
The EFCC had previously secured the forfeiture order on 57 properties across Abuja, Kano, Kebbi, and Kaduna, alleging they were proceeds of a N9 billion money laundering scheme. Malami, who served under the Buhari administration, was arraigned alongside his son, Abdulaziz, and his wife, Hajia Bashir Asabe.
The court has ordered the EFCC to publish a notice for any interested parties to contest the final forfeiture of these assets.
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