EFCC Traces 41 Properties Worth N212.89bn To Ex-Attorney-General Malami, Son

The Economic and Financial Crimes Commission (EFCC) has traced a total of 41 properties to a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), and his son, Abdulaziz Malami, as part of ongoing investigations into alleged financial misconduct.

The assets, which include hotels, universities, schools, residential buildings, factories, commercial facilities, lands and a printing press, are spread across Kebbi State, Kano State and the Federal Capital Territory (FCT), Abuja.

The combined estimated value of the properties under EFCC scrutiny stands at N212,892,750,000.

The disclosure on Wednesday followed searches conducted by EFCC operatives at Malami’s residences and offices in Abuja and Kebbi State on December 17, as the commission intensified its investigation into the former minister’s financial dealings while in public office.

According to documents linked to the investigation, properties traced to Kebbi State account for the largest share, with a total valuation of N162,195,950,000.

Key assets under the Rayhaan University and education portfolio include the Rayhaan University Permanent Site valued at N56bn, the temporary site worth N37.8bn, and a third site valued at N2.45bn.

Other related properties include the Vice-Chancellor’s house valued at N490bn, Rayhaan Model Academy worth N11.2bn, and Rayhaan Primary and Secondary School valued at N8.75bn.

Also listed are Rayhaan Agro Allied Factory and commercial facilities, including factory buildings valued at N4.2bn, factory machines and plant units worth N10.5bn, a factory mosque valued at N2.45bn, mill staff quarters comprising 10 units valued at N1.487bn, Rayhaan Bustan Building worth N3.15bn, and a printing press valued at N1.05 billion.

Furthermore, commercial assets include Al-Afiya Energy Tanker Garage valued at N2.45bn, Amasdul Oil and Gas Ltd structure worth N1.05bn, and Rayhaan Radio valued at N78.75m.

Under the Azbir brand, EFCC traced Azbir Hotel valued at N10.325bn, a gallery worth N581m, gardens valued at N392m, a mosque worth N252m, Azbir Clothing valued at N350m, and Azbir Pharmacy and Supermarket worth N175m.

For residential and foundation-related properties in Kebbi include a house at GRA valued at N350m, a house behind Mobil valued at N490m, a residence behind the cemetery valued at N350m, Abdulaziz Malami’s house valued at N1.659bn, Ahbiru’s house valued at N2.989bn, Malami Support Organisation building at ADC valued at N210m, Kadi Malami Foundation building worth N56m, Rayhaan Security House valued at N245.7m, and an uncompleted three-storey complex valued at N665m.

In Kano State, assets linked to the former minister and his family are valued at N16,011,800,000. These include Zeennoor Hotel valued at N11.2bn, Zeennoor Mosque worth N84m, Zeennoor Old Hotel Building valued at N280 million, Rayhaan Hotel Kano worth N2.24bn, Rayhaan Gym Kano valued at N1.225bn, and a residential property belonging to Malami’s wife on Ahmadu Bello Way valued at N982.8m.

However, properties traced to the Federal Capital Territory are valued at N34,685,000,000. They include a duplex on Amazon Street, Maitama, valued at N5.95bn, Meethaq Hotel, Jabi Branch, valued at N8.4bn, Meethaq Hotel, Maitama Branch, worth N12.95bn 42 units of bungalows at Efab Estate valued at N385m, and Harmonia Hotels in Area 11, Garki, valued at N7bn.

The EFCC said the tracing of the assets is part of a broader investigation into alleged financial impropriety and abuse of office.

The commission has yet to announce whether the properties will be formally seized or subjected to forfeiture proceedings, pending the outcome of investigations and possible court actions.