Malami’s Wife Named Sole Signatory as EFCC Uncovers Bank Transfers in ₦8.7bn Trial

Fresh revelations emerged today at the Federal High Court in Abuja as witnesses for the Economic and Financial Crimes Commission (EFCC) detailed bank transactions allegedly linking the family of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, to financial flows under investigation in an alleged ₦8.7 billion fraud case.

Malami is standing trial alongside his wife, Asabe Rakiya Bashir, and their son, Abubakar Abdulaziz Malami, before Justice Joyce Abdulmalik over a 16-count amended charge bordering on conspiracy, concealment, and laundering of proceeds of unlawful activities amounting to ₦8,713,923,759.49, contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.

At the resumed hearing today, prosecution counsel J.S. Okutepa, SAN, called Daniel Simon Kwayil, a compliance officer with Union Bank, as Prosecution Witness Two (PW2).

Kwayil told the court that Union Bank received a request from the EFCC in 2025 seeking documents relating to Meethaq Hotels Limited, including account opening documents and statements of account.

The documents, dated December 23, 2025, were tendered in court and admitted as Exhibit B series after defence counsel J.B. Daudu, SAN, raised no immediate objection.

While explaining entries in the account statement, Kwayil said several transfers were made from the Meethaq Hotels Limited account to individuals and entities linked to the Malami family.

According to him, ₦14 million was transferred to Abubakar Malami on February 5, 2024, while another ₦24 million was sent to him on March 4, 2024.

He also disclosed that ₦24 million was transferred on February 3, 2024 to A.A. Malami & Co, the law firm associated with the former Attorney-General.

Another transfer of ₦12.5 million was made to A.A. Malami on May 3, 2024, the witness added.

Kwayil further told the court that Asabe Rakiya Bashir, the second defendant and wife of the former AGF, was the sole signatory to the account of Meethaq Hotels Limited, a fact reflected in the company’s board resolution and account opening documents.

“The sole signatory to Meethaq Hotels Limited is Asabe Rakiya Bashir,” the witness said while identifying her in the dock.

The bank records also revealed multiple inflows into the account between 2022 and 2023, including deposits from YMB Energy Limited and other sources.

The prosecution also called Olomotane Egoro, a compliance officer with Access Bank, as Prosecution Witness Three (PW3).
Egoro testified that Access Bank received EFCC requests for documents relating to Rayhaan Bustan and Agro Allied Nigeria Limited and Khadimiyya for Justice and Development Initiative.
The documents were admitted in evidence as Exhibits C1 and C2 despite an objection from the defence, which argued that the witness statement had not been previously disclosed.

In her ruling, Justice Abdulmalik held that since Access Bank was listed among institutions expected to testify, the defence could cross-examine the witness and study the testimony if necessary.

Egoro told the court that Abdulaziz Malami was the sole signatory to the account of Rayhaan Bustan and Agro Allied Nigeria Limited, which received a ₦400 million loan facility disbursed on October 9, 2020.

According to him, the loan was fully repaid on July 14, 2022.
He added that on November 10, 2020, several transfers were made from the account to New Horizon Limited, including ₦100 million, ₦10.5 million, and multiple transfers of ₦20 million each.

The witness also testified about financial transactions involving Khadimiyya for Justice and Development Initiative, stating that the account received ₦722,986,603.75 in total lodgments between October 2019 and December 2023.

He further disclosed that the Rayhaan Bustan account recorded total lodgments of ₦1,857,978,100 between March 2020 and January 2025.

Under cross-examination, both witnesses maintained that they were not involved in the transactions themselves and could not determine whether the transfers were commercial in nature.

“I don’t know because I’m not a party and I don’t know the purpose of the transaction,” Kwayil said when asked about the nature of the transfers.

Egoro also confirmed that he was invited by the EFCC through his bank and not via a subpoena.

Following the testimony, Justice Abdulmalik adjourned the case to April 20, 2026 for continuation of trial.

The EFCC alleges that the defendants conspired to disguise and launder proceeds of unlawful activities running into ₦8.7 billion, an allegation the defendants are contesting in court.