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A Federal High Court in Abuja on Friday granted ₦200 million bail to former Attorney-General of the Federation, Abubakar Malami, his wife, Asabe Bashir, and their son, Abdulaziz Malami, in an ongoing ₦9 billion money laundering trial filed by the Economic and Financial Crimes Commission(EFCC).
Malami is being tried alongside the two family members on a 16-count charge bordering on alleged money laundering.
At the resumed hearing, the trial judge, Joyce Abdulmalik, directed the prosecution to present its first witness. The EFCC then called its first witness, David Ajoma, a compliance officer with Sterling Bank in Abuja.
Ajoma told the court he had worked with the bank for three years and was responsible for handling compliance requests from law enforcement agencies.
He testified that the bank received a request from the EFCC on December 2, 2025, asking for details of loan facilities granted to Rayham Hotel Limited.
According to him, the bank responded by forwarding the requested documents, including the account opening records, loan account statements and other supporting materials.
Ajoma further explained that the loan granted to Rayham Hotel Limited was secured with cash collateral from Metropolitan Autotech.
He told the court that both companies maintain separate accounts with Sterling Bank and that the Metropolitan Autotech account is operated by a signatory identified as Hassan Aliyu.
Under cross-examination, the witness acknowledged that he was not the relationship manager for either Rayham Hotel Limited or Metropolitan Autotech and therefore lacked detailed knowledge about the purpose of the inflows into the accounts.
He also confirmed that Malami’s name did not appear on the loan application documents submitted to the court. According to him, the only name listed on the application was Abdulaziz Malami, who signed as managing director of Rayham Hotel Limited.
Ajoma also stated that none of the transactions reviewed by the bank originated from any government account, the Federal Ministry of Justice, or from Malami personally.
He added that based on the documents before the court, he could not identify any suspicious transactions linked to the accounts, nor any breach of regulations issued by the Central Bank of Nigeria.
Following the testimony, defence counsel formally moved the application for bail for the three defendants.
The EFCC informed the court it did not oppose the request but asked that strict conditions be imposed to ensure their attendance during trial.
In her ruling, Justice Abdulmalik granted bail to each of the defendants in the sum of ₦200 million with two sureties in the same amount.
The court stipulated that one of the sureties must provide title deeds for properties in either Maitama or Asokoro, both upscale areas in the capital.
Additionally, the judge ordered the defendants to surrender their international passports to the court.
Until the bail conditions are met, the trio will remain in the custody of the Nigerian Correctional Service.
The court adjourned the case until March 16 for the formal commencement of the trial.
